Posted on 09/22/2011 5:47:06 AM PDT by sunmars
The number of people who filed for unemployment assistance in the U.S. last week declined less-than-expected, official data showed on Thursday.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 16 fell by 9,000 to a seasonally adjusted 423,000, falling short of expectations for a decline to 420,000.
The previous week’s figure was revised up to 432,000 from 428,000.
Continuing jobless claims in the week ended September 10 fell to 3.727 million from a revised 3.755 million in the preceding week. Analysts had expected continuing jobless claims to fall to 3.720 million.
Following the release of the data the U.S. dollar remained higher against the euro, with EUR/USD slumping 0.94% to trade at 1.3446.
Meanwhile, U.S. stock index futures were largely unchanged following the data.
The Dow Jones Industrial Average futures indicated a sharp loss of 2.4%, S&P 500 futures tumbled 2.7%, while the Nasdaq 100 futures dropped 2.3%.
(Excerpt) Read more at forexpros.com ...
Unemployment claims fall this week! Yeah!!!
And in other news Last week's numbers revised up...
They will push/hype and flat-out lie. It is going to get worse, to the point of comedy, as the campaign gets under way.
Continuing Claims will continue to fall as more and more people exhaust benefits. I think the last of the 99 Weeks of extended benefits ends at the end of 2011.
So continues the ongoing pattern of releasing numbers, then revising them upward later.
Here’s that unexpected thing again. I am starting to expect that the results will be unexpected. Who are these “analysts”. Goldman, JP Morgan,??? If they worked for me, I would get them in a room to see what data they are looking at that expects next week will be better. The rest of us are only seeing several years of declining trends without positives. It seems that even the FED could learn from them since he doesn’t expect significant improvement by next Thursday. I still think there is great value in somehow graphing only the regular downward revisions to the previous numbers. Thats where the real story is.
Drink!!!
You have to really be on your toes to decipher that these are NEW claims, meaning over the last two weeks there’s been almost 900,000 more jobs lost, probably more.
Unexpectedly
With a Republican President the article would just say “unemployment sucks”.
With Obama, it takes a reporter and 5 editors with “creative writing skills” to write this article of fiction.
So the jobless rate doesn’t suck quite as much as we expected. This is totally unexpected. I’m gleefully surprised that we aren’t in a total freefall, relieved that we haven’t reached the point of no return.
They are fixing the numbers to be sure, everything is far worse than they are reporting, and this from all govt agencies.
They learned this tactic from MSM/REP pollsters
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.