Posted on 06/14/2012 5:59:29 AM PDT by John W
WASHINGTON (AP) — More Americans sought unemployment aid last week, suggesting hiring remains sluggish.
The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.
The four-week average, a less volatile measure, rose for the third straight week to 382,000. That's the highest in six weeks.
Weekly applications are a measure of the pace of layoffs. When they drop below 375,000, it typically suggests hiring is strong enough to reduce the unemployment rate.
(Excerpt) Read more at news.yahoo.com ...
“When they drop below 375,000, it typically suggests hiring is strong enough to reduce the unemployment rate.”
The figure was 325,000 until Obama took office. Doesn’t really matter since most of the numbers being put out are phony anyway.
Not sure how I missed this brilliancy last week-—
Federal Reserve Chairman Ben Bernanke said last week that the warm winter might be a reason for the slowdown in hiring. He also suggested that the burst of job gains earlier this year could have represented a “catch-up in hiring” by employers who cut too deeply in the recession.
Finally...we must be experiencing the vaunted “summer of recovery”. Thank Goodness for nobama, biden and their wonderful policies. If I were only smart enough to understand how they are so all-seeing and all-knowing.
Let me be the first to say..... “UNEXPECTED!”
That pretty much confirms Helicopter Ben is a victim of the Peter Principle, doesn’t it?
Dumb American businessmen and job candidates...caught with their shorts down when the winter is too cold. Caught again when the winter is too warm. These people are so stupid they don’t deserve to stay in business or have jobs.
Remind me again...what year was the perfect Mama Bear winter when Goldilocks did maximum hiring and no laid nobody off?
“Economists surveyed by MarketWatch had projected claims would fall to 376,000.”
Last week’s figures were “upwardly revised” this week? What a surprise — just how many times has that happened in the past four years?
“The economy is doing fine’ -obamma
Last week’s figures were “upwardly revised” this week? What a surprise — just how many times has that happened in the past four years?
And of course-—
“Claims from two weeks ago were revised up to 380,000 from an original reading of 377,000, based on more complete data collected at the state level.”
And in other news, Foreclosures Spike 9% in May:
http://www.freerepublic.com/focus/f-news/2895164/posts
The actual figure was 200,000.
You can pretty much bet that 386K will be revised to 390K+ after next week’s “adjustment”.
“Last week’s figures were “upwardly revised” this week? What a surprise — just how many times has that happened in the past four years?”
I think that is now 65 out of the last 66 weeks.
Also, this should put a damper on his major economic speech today.
RE: weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.
Yes, I remember it was reported at 377,000 last week. And I have been observing for the longest time that the weekly revision has always been UP, never down. Which tells me that this week’s 386,000 will be revised UP next week.
To make a long story short — the numbers are getting worse, not better.
Misquoted.
Here is the actual quote:
‘”the private sector is doing fine.”’
The 65th upward revision in 66 weeks.
http://www.exposingtheleft.blogspot.com/2012/06/us-unemployment-aid-applications-rise.html
—That pretty much confirms Helicopter Ben is a victim of the Peter Principle, doesn’t it?—
Naw. It’s not that they are dumb. They know there is no way out of this. Their job is not to save the Titanic. Their job is to try to keep it afloat a little longer. They’ve actually been surprisingly successful.
After all, fiat money, markets, etc. depend on faith. Their job is to keep faith from falling to the point where everyone is trying to get out. I call that critical mass. It has taken a while, and they’ve been able to lie and obfuscate long enough to fool enough people to at least have enough faith that we have not hit our critical mass point yet.
It really is looking like we’ll reach critical mass this year, however. I think the election is one of the catalysts.
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