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 ...
If I’ve learned anything over the past couple of years, it’s that when first-time unemployment claims go up, the unemployment rate goes down.
So this is good news!
If it’s Thursday, it’s unexpected...
Hey Rocky! Watch me pull a rabbit out of my hat.
Again?!
It doesn’t matter what the numbers are. The books are cooked anyways.
The numbers are WAY worse than what they are reporting. Nobody and I mean NOBODY in this government can be trusted. PERIOD!
” More Americans sought unemployment aid last week.......”
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And I was one of them. First time I had to do it after 19 years of employment.
And if it's (insert day of the week), it's Bush's fault.
I would agree to a certain extent and the real blame lies with the voters but still the Fed keeps saying it is unsustainable but that is about the most it does to educate the public and in the meantime they often go out of their way to show that they are buddies with the socialists, recall Greenspan making a big point of attending Clinton's state of the union speech.
Pretty piece of work combing through that data - thanks.
And to summarize what you presented:
For the last four months, this is what was reported by the regime: Unemployment claims went DOWN 9 of those weeks, up only 3.
For the last four month, this is REALITY (after revisions): Unemployment claims actually went down only 3 of those weeks, they really went UP for 9 of them.
And the MSM order another delivery of crickets.
The unemployment rate is calculated from the Bureau of Labor Statistics household survey and has nothing to do with the people collecting unemployment checks. You can be unemployed according to the BLS without being eligible for unemployment (formerly self employed, just out of school, out for too long, not looking for work enough for local unemployment office and lost your benefit). You can also be collecting unemployment checks without being unemployed according to the BLS (in school for a retraining program where you still get unemployment checks, not looking for work hard enough for the BLS to count you, not immediately available for work due to injury or illness).
Look back and the Dems were pushing for Iraq 1991 (Desert Storm).
I believe the age of Obama (neo-progs) saw their opportunity in 2001 when the Dems voted for Iraq and then did a 360.
The hard left were willing to say or do anything to win and the media was willing to back them up.
It was an observation, not a commentary on the methodology utilized by the BLS to calculate initial claims (which is what the thread referenced). But, thanks for reiterating easily obtained information.
I’m sorry to hear that. What is your line of work?
Excellent post.
The definitions of unemployment rate and unemployment claims are widely misunderstood.
Don't remember exactly but it's about the 50th week in a row that it's happened. Each week is underestimated, which makes the next week's "rise" look smaller because it's based on the unwardly revised previous week.
More proof that the private sector is doing fine.
Civil engineering with an emphasis in transportation. There will be possibilities in the future so I am optimistic.
The unexpectedliness is getting waist deep this Summer.
Or, he'll try to use it to his advantage as he unveils and orders Congress to pass his latest borrow-and-spend-and-soak-the-rich scheme in his grand plan to "fundamentally change" the nation and hasten our march toward Euro-style socialism.
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