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Nine States Did Not File Initial Claims Data Due To Labor Day, Hundreds Of Thousands Of Estimates
zero hedge ^
| 09/09/2010
| Tyler Durden
Posted on 09/09/2010 7:24:14 AM PDT by george76
The BLS has announced that as a result of the Labor Day weekend, 9 states (among which the biggest one California) did not report initial claims data to the bean counters, so instead the government had to "estimate" what the data would have been: yep, estimate, what the data was in these nine states.
Official data is now made up on the fly. This US economic data reporting has just entered the twilight zone. Also, when the data is officially made up, it is not that difficult to get data that is "better than expected." The full list of states is: DC, Illinois, Idaho, Hawaii, Oklahoma, Michigan, and Washington. California and Virginia estimated themselves.
(Excerpt) Read more at zerohedge.com ...
TOPICS: Business/Economy; Crime/Corruption; Extended News; Government; News/Current Events; US: California; US: District of Columbia; US: Illinois; US: Michigan
KEYWORDS: betterthanexpected; bls; laborstatistics; unexpected; unexpectedly
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full title ...
Nine States Did Not File Initial Claims Data Due To Labor Day, Hundreds Of Thousands Of Estimates In Data "Beat"
1
posted on
09/09/2010 7:24:15 AM PDT
by
george76
To: george76
Expect that next week this weeks numbers will be unexpectedly revised in an unexpected upwards direction.
2
posted on
09/09/2010 7:25:29 AM PDT
by
Lurker
(The avalanche has begun. The pebbles no longer have a vote.)
To: george76
Friedman once said he’d abolish all government statistic keeping. They just use the data to support anti-market policies.
3
posted on
09/09/2010 7:26:13 AM PDT
by
DManA
To: Lurker
Expect that next week this weeks numbers will be unexpectedly revised in an unexpected upwards direction. ...buried on page 27 of the Times.
4
posted on
09/09/2010 7:28:47 AM PDT
by
Zeppelin
(Keep on FReepin' on...)
To: Lurker; Grampa Dave; Liz; BIGLOOK; LucyT; Candor7; null and void
Statistics are like bikinis. What they reveal is suggestive, but what they conceal is vital.
http://www.youtube.com/watch?v=NzlG28B-R8Y
41 states worse than expected, and the missing 9 boom to the upside.
ht comments
5
posted on
09/09/2010 7:30:47 AM PDT
by
george76
(Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
To: george76
6
posted on
09/09/2010 7:36:46 AM PDT
by
blam
To: george76
7
posted on
09/09/2010 7:37:20 AM PDT
by
BenLurkin
(This post is not a statement of fact. It is merely a personal opinion -- or humor -- or both.)
To: george76
The missing states account for 1/4 of the U.S. population.
8
posted on
09/09/2010 7:37:46 AM PDT
by
DrC
To: george76
Maybe this is why the Dems are so somber this week. They know the real numbers, when they come out, are killers.
Just a thought.
9
posted on
09/09/2010 7:46:10 AM PDT
by
I still care
(I believe in the universality of freedom -George Bush, asked if he regrets going to war.)
To: george76
Kind of reminds me of when VPGore proposed to count 90% of the population in the census and estimate the other 10%.
To: george76
“There are three kinds of lies: lies, damned lies and statistics.” — Mark Twain
11
posted on
09/09/2010 7:50:28 AM PDT
by
Freedom56v2
("If you think healthcare is expensive now, wait till it is free"--PJ O'rourke)
To: george76
“Statistics are like bikinis. What they reveal is suggestive, but what they conceal is vital.”
Never heard that one. Love it!!!
To: george76
Expect a “rousing” speech next week in a labor hall filled with union skinjobs lined up together like daisies in a flowerbox. Expect the MSM to report how Obama is back, full of “indignation” and laying on the pancake makeup with a dozen trowels in an effort to keep the dead man walking along, relatively less flyblown than the day before.
13
posted on
09/09/2010 7:55:56 AM PDT
by
februus
To: george76
In a shameful way it doesn’t really even matter. Do we believe ANYTHING from this administration or the media anymore???
I don’t.
To: george76
15
posted on
09/09/2010 8:02:29 AM PDT
by
Oatka
("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
To: george76
Well, this situation is understandable but the real proof will be when the revision takes place after all the data are received. Let’s see how much integrity there is is the estimating process.
16
posted on
09/09/2010 8:03:03 AM PDT
by
NonValueAdded
("People are losing jobs because of DemocRATs" Rush Limbaugh 9/8/10)
To: NonValueAdded
Even at their best, "official" statistics deliberately ignore long term unemployed, once your unemployment benefits expire you become a U-6, a so called discouraged worker
who is no longer in the job market, and therefore
doesn't count as unemployed!
17
posted on
09/09/2010 8:19:36 AM PDT
by
null and void
(We are now in day 593 of our national holiday from reality. - 0bama really isn't one of US.)
To: null and void
18
posted on
09/09/2010 8:31:49 AM PDT
by
italianquaker
(obama all hat no cattle)
To: Lurker
That would make the administration look even worse.
To: Lurker
Yes, it will be:
20
posted on
09/09/2010 12:34:41 PM PDT
by
Iron Munro
(The extravagance of his hype is matched by the inadequacy of his performance.)
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