New U.S. jobless claims fell last week (not really)

Reuters ^ | 3 September 2009 | N/A

[Erik Latranyi]

WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits fell last week, but the prior period's figure was revised up, according to a government report on Thursday that highlighted the fragility of the labor market.

Initial claims for state unemployment insurance benefits fell 4,000 to a seasonally adjusted 570,000 in the week ended August 29 from an upwardly revised 574,000 the prior week, the Labor Department said.

[Erik Latranyi]

So, if job losses slow by 4000 per month, it will only take about 2 years to stop the job losses!

[Erik Latranyi]

Expect this number to be revised “up” as well since that is the game they are playing.

Show a decline, then revise to an increase.

[Ghost of Philip Marlowe]

Meanwhile, how is that “job creation” and “job saving” working out for ya, Obama?

You can only bleed so much. When all your blood is pooled on the sidewalk, “He’s finally stopped bleeding” is NOT good news to hear from the paramedic.

[4rcane]

the way US calculate economic stat is a complete fraud. I don’t understand why theres constant revisions and why you could lose a net 200k job in a month and still see a decrease in unemployment rate of 0.1%

[jersey117]

What a joke. I fail to see the good news in 300,000 more Americans losing jobs. This administration isn’t even providing a fraction of that in new jobs. Empty promises by an empty suit.

[moose2004]

The dip was due to summertime adjustments in the labor force (factory idling, temporary summer jobs like lifeguards, restaurant and resort workers, etc...), these numbers will be re-adjusted when September's and October's numbers are reported.

[FromLori]

We lost another 298,000 jobs in August alone

http://www.businessweek.com/smallbiz/running_small_business/archives/2009/09/298000_jobs_she.html

[concerned about politics]

570,000 in the week ended August 29

Wow. "Only" half a million job losses. Impressive. (Not)

These numbers only cover those applying for benefits. What about those who've used up their benefits? The newly graduated high school and college kids? Those who need second jobs to support the democrat base?

Good job, Hussein. Good job singlehandedly destroying the U.S. from within (Doing the job the 9/11 high jackers failed to do.)

[CharacterCounts]

This has become a pattern with this administration. Big headlines when the numbers are reported as declining, on to be revised up later and reported in a footnote in section B of the local paper.

Everything this administration does is propaganda.

[Melchior]

Labor department statistics are not to be believed. Tbe most recent data will be revised upward two weeks from now.

[qwertypie]

The prior period’s loss was initially reported as 566,000 and the moving average as 570,000. So basically it is stuck at 570,000 as I noted last week. Stubborn stagnation.

[RipSawyer]

Modern farmers have a scientific term to describe it, it’s called “Male Bovine Feces” or MBF.

[dcgst4]

Is it just me or does the headline (or the All-Obama Press’, which calls it a dip) seem to intentionally mislead, as if the jobless rate actually fell?

[Erik Latranyi]

Is it just me or does the headline (or the All-Obama Press’, which calls it a dip) seem to intentionally mislead, as if the jobless rate actually fell?

You're catching on! The media must prop Obama up regardless of truth....therefore, bad news is spun to be good.