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 ...
“Economists surveyed by MarketWatch had projected claims would fall to 376,000.”
Like a lot of other surveys this one is probably skewed in favor of Democrat economists.
Econ-0-Misseds................
I think you meant to reply to post eleven, but both of you are discussing what I always think when I see the unemployment numbers. It’s funny to watch them spin. It only works for those that are not really paying attention.
65 out of 66 weeks, I think...that is “unexpected”...:))
March 15: Reported - 351,000, Revised - 353,000
March 22: Reported - 348,000, Revised - 364,000 Reported - down, Actual - up
March 29: Reported - 359,000, Revised - 363,000 Reported - down, Actual - down
April 05: Reported - 357,000, Revised - 367,000 Reported - down, Actual - up
April 12: Reported - 380,000, Revised - 388,000 Reported - up, Actual - up
April 19: Reported - 386,000, Revised - 389,000 Reported - down, Actual - up
April 26: Reported - 388,000, Revised - 392,000 Reported - down, Actual - up
May 03: Reported - 365,000, Revised - 368,000 Reported - down, Actual - down
May 10: Reported - 367,000, Revised - 370,000 Reported - down, Actual - up
May 17: Reported - 370,000, Revised - 372,000 Reported - no chg, Actual - up
May 24: Reported - 370,000, Revised - 373,000 Reported - down, Actual - up
May 31: Reported - 383,000, Revised - 389,000 Reported - up, Actual - up
June 07: Reported - 377,000, Revised - 380,000 Reported - down, Actual - down
June 14: Reported - 386,000, Revised - TBD Reported - up, Actual - TBD
Based on data above the odds of an upward revision next week is 100%.
Like the stock market the support level is 400,000. If the numbers go above that it is a political nightmare of the current administration. But worse - it means we have a definite double dip and people will be hurting.
Two things I’ve learned are true, especially watching the results of this administration: anyone can be a “Constitutional scholar,” and anyone can be “an economist.” They’d be just about as correct as these vaunted Ivy Leaguers with all the credentials.
“The 65th upward revision in 66 weeks.”
A scandal that begs to be investigated. BLS officials need to be summoned to the Hill to explain why the revisions are always conveniently to the upside. Taxpayers are paying for this outrageous ledgerdemain.
” Their job is not to save the Titanic. Their job is to try to keep it afloat a little longer. “
Just long enough to push the women and children aside so they can have the lifeboats all to themselves...
Nothing “dampers” the Idiot In Chief...what a loser!
—Just long enough to push the women and children aside so they can have the lifeboats all to themselves...—
Well, to cut them a little slack, if you were in their shoes and it was obvious to you that the ship is going down and your job is to keep it upright for the passengers, what would you do?
I’m not saying they are right, but what may be happening here is that they are just trying to keep the ship afloat as long as possible, which IS their job. Of course, the analogy breaks here because the REAL Titanic plunged to the bottom and it didn’t matter how fast or deep. In our case, it does.
That is, what they are doing could result in an absolute catastrophy that was really not necessary.
I believe this will end with WWIII.
Where is our 8% unemployment and deficit cut in half...?
That Bush is a tricky guy the way he “structurally” built in all that overspending against Obammy’s will.
plus I am sure Sarah Palin’s rhetoric is wrecking Obama’s good works.
EVERY WEEK they upwardly revise the previous week's numbers.
EVERY WEEK they upwardly revise the previous week's numbers.
In the past two weeks, 240k have fallen off the 99 week cliff and are no longer counted. They, likely, sure as he77 are not employed, but thankfully, for Obama, they are no longer counted as unemployed.
Whoops. They failed to "upwardly revise" last week's totals to 390K to show a "drop" of 4K. Somebody's going to the woodshed over that one.
Obama administration = Hanlon’s Razor
Upwardly revised again from the previous week. This week’s 6000 rise would have been 9000 without the upward revision, but that isn’t really the issue.
The issue is that 386,000, more than a third of a million people, went on unemployment checks last week. The week before it was the same, and it’s the Obama standard...except when nearly a half million were going on unemployment checks each week.
Yes, and we know this week’s phony # will be revised upward when next week’s phony # is announced.
They all helped to "bake the cake"!
I haven’t seen the word used quite as often. I guess some journalists are starting to realize they’re being made fun of.
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.