Obama crashing the economy is about as "unexpected" as a drunk crashing a car.
Posted on 04/14/2011 6:10:52 AM PDT by TomGuy
WASHINGTON (Reuters) - New U.S. claims for unemployment benefits unexpectedly rose last week, bouncing back above the key 400,000 level, a government report showed on Thursday.
Initial claims for state unemployment benefits rose 27,000 to a seasonally adjusted 412,000, the Labor Department said.
(Excerpt) Read more at finance.yahoo.com ...
The Reuters headline omitted the number 412,000.
THIS is series!
Obama crashing the economy is about as "unexpected" as a drunk crashing a car.
Whenever the MSM publishes the unemployment figures, I ignore them and wait a week or so until the accurate figures are published.
The MSM and the current administration are ridiculously transparent in their efforts to skew the condition of our economy.
EODGUY
But, in more encouraging news, the unemployment rate that will be reported tomorrow will show a decrease.
While this week’s number of people filing initial cliams surged to 412K, blowing out expectations of 380K, it is once again the prior revision that shows the true nature of the BLS. Last week when claims printed at 382K, better than expectations: last week’s 388K was revised up to 392K, declining to 382K below expectations of 385K, which in tried BLS fashion will certainly be revised next week so that the actual number will have been a miss but by then nobody will care. Sure enough: last week’s number was revised... to 385K, meaning there was no improvement.
Obviously this week’s number will be revised higher next week. As usual. Looking at continuing claims we see the same thing: the prior number was revised from 3,723K to 3,738K, meaning the drop to this week’s 3,680K was better than expected. Lastly from the BLS, people claiming EUCs and Extended Benefits increased by about 40K in the week ended March 26.
Our son was one of ‘em. He’s relieved. He HATED his job. The trick will be finding another one.
It’s like the crude oil inventories. This week showed lower than expected supplies. That’s because everyone and their brother saw prices skyrocketing so was filling up as cheap as they could. Next week will be “higher than expected” inventories because nobody’s buying gas. But by then no one will care...
Fox News reported the numbers
Do I even have to say it?
They are not even good liars, if you are going to lie, why not lie better?
I guess even liars have a threshold they will not cross, so if they are reporting a somewhat bad number, imagine how bad the real numbers are? We will probably not learn this until President Palin takes office in Jan 2013
“But, in more encouraging news, the unemployment rate that will be reported tomorrow will show a decrease.”
LOL. So true. Jobless numbers increase, inflation up, housing down, but hey: The economy is on the mend and people are going back to work!
Announcing the findings of a Senate panel investigating the financial crisis, Senator Carl Levin (D-MI) called Goldman Sachs “a financial snake pit rife with greed, conflicts of interest, and wrongdoing,” adding that C.E.O. Lloyd Blankfein should possibly face perjury charges.
I would have posted primary source but the web site would not open. I wonder why ___ ? < / sarcasm >
And my unicorn poops Skittles.
They really do think we are stupid. We’re not, but unfortunately, a lot of Americans are just dumbed down.
See tagline.
9% Unemployment is what all Socialist countries have.
Welcome to the new normal.
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