Skip to comments.US: Initial Jobless Claims fell to 393K
Posted on 11/29/2012 7:02:16 AM PST by SeekAndFind
According to the Labor Department, the americans that filed in their first initial claims for regular state unemployment-insurance benefits fell by 17K last week to a seasonally adjusted 393K in the week ended November 24, above expectations at 390K and coming from 410K (revised) in the previous print.
Continuing claims, which reflect people already receiving benefits, fell by 50K to a seasonally adjusted 3.2878 million in the week ended November 17 vs. 3.337 million in the previous week (revised).
After soaring to about 4.5 thousand, they fell last week to about 4 and this week to the high 3.9.
IOW, they are extremely high but get to be reported as falling.
Repeating this garbage gets tiresome.
Notice no mention of the week being shortened by Thanksgiving.
Especially after taxes go up, Obamacare kicks in, and the temp tax cuts expire...
Roger that. I believe they are intentionally gaming these "revisions" so they can continue to spout BS headlines like this.
unexpectly higher than preelection numbers
If you believe the numbers (and I don't), I guess we're supposed to celebrate that on a monthly basis 1.7 million newly unemployed can be expected? The kenyan is doing "wonders" with our economy! /sarc
A lot of people's benefits are scheduled to expire at the end of the year. I wonder how they are going to survive?
“I wonder how they are going to survive?”
If old enough, go on Social Security.
If not, go on disability.
If they have kids, get the kids to go on disability.
There are record numbers of people going on SSDI and getting “crazy checks” for their kids. I wonder why...
Next week, these numbers can be revised up. Next week can then be reported as another drop in jobless claims even there is not one.
What was the number just before the election? About 340,000? And now they are about 400,000? No, nobody is cooking the books.
..next week’s readjustment will put it up over 420,000....
All those already laid off, work in the food/farming industry, or were self employed aren't counted each week. They're still lost and unemployed, but according to the numbers these people no longer exist.
In reality, these numbers don't represent the unemployed at all. All they represent are the NEWLY unemployed for the week. Add these to the people who lost their jobs last week, the week before, the month before, and the year before, and a lot of people are in dire straights right now.
I expect the (cooked) numbers to keep decreasing. Those filing for unemployment do so on they basis they worked. With so many not working any more, claim numbers will continue to fall.