Posted on 10/18/2012 5:41:27 AM PDT by John W
WASHINGTON (MarketWatch) - Applications for U.S. unemployment benefits jumped 46,000 to a seasonally adjusted 388,000 in the week of Oct. 7-13, the Labor Department said Thursday, erasing the sharp drop from the prior week. Claims had fallen two weeks ago to a four-year low, but the decline mainly stemmed from a statistical quirk in the data that often happens at the end of a quarter and it was not reflective of a rapidly improving labor market.
(Excerpt) Read more at marketwatch.com ...
Gallup’s unemployment number is fair warning to the republicans. Gallup consistently tracks with the end of month UE3 number that is put out by the BLS, although it typically is a few tenths lower. In other words, on November 2, 4 days before the election, Obama will reveal that the unemployment rate has dropped to 7.5 or so.
It is the october surprise writ large, and unless planned for ahead of time, it will be difficult to defend against.
I would begin mentioning the “part time ecomony” as the democrat’s dream for the future. Not enough to support you or to lift you, but just enough to keep their numbers looking good.
Gallup says not all of the report is “part time”, but that’s insignificant really. It is devastating that so many Americans are UNDEREMPLOYED!
Do not fear - you are reading the antidote to Press Poisoning!
Unexpectedly!
FAIL!
That’s what happens when you cook the books. Eventually, the numbers reverse themselves. Happily, they couldn’t maintain the lie beyond the election.
Further evidence that the BLS totally faked that 7.8% unemployment rate that Romney had to repeat in the debates. When will there be an investigation into this government agency the BLS and of Obama ?
Good catch!
They couldn’t maintain it for a week. If you were working mathematically with every one of these reported numbers during Obama’s reign, the one reported last week would be thrown out. As well it should be.
No, seven of the fifty seven refused to report.
‘statistical quirk’ - So that’s what they are calling it nowadays................
Totally different calculation. The monthly number is based on 60,000 random phone calls to the Sheeple about there personal employment situation. What a crock that is. U6 is a truer number of the situation. Especially when the Dept of Labor seems to use only Washington DC phone books for there RANDOM Household survey.
This is so high that shows we are in a depression. That should be the media headlines but instead the headlines have been that “the job market is improving , 7.8% blah blah blah” = LIES
Ben is making a rather smart move, financially, that is. His book ought to be a NYT number one best seller in DC, NYC, SF, LA, SEA and CHI...........
Here is the current NBC News take on today’s report:
“The Labor Department reported Thursday that initial claims, a notoriously volatile data point that is subject to large swings due to technical factors, rose a seasonally-adjusted 46,000 to 388,000. The four-week moving average, which smooths out wrinkles in the data, rose 750 to 365,500. Both data points remain below 400,000, suggesting that the labor market is healing, although at a snail’s pace.”
When your qualifier to cover Barry’s ass is longer than the rest of the sentence it’s in....
Happy Days are here again! / The skys above... ah,... er... nevermind.
I heard you the first time...........;^)
I noticed in the last debate that Romney is using the ‘real’ number based on same-size pool of workers and said the ‘real’ unemployment number was over 10%.
That had to chap Obama, after all these months of numbers manipulation to reach the phony 7.8% number.
Romney should have used the UE6 number which is over 14%.
I turned the channel when he was saying this xxxx.
That’s total lies from the media, 388,000 new claims in unemployment( in 1 week) shows we are in a depression.
They need to hit the real numbers hard + the part-time workers reported in the U3 prior to the october surprise of a 7.5% unemployment rate.
With that coming out on a Friday, 2 November, there is little opportunity to explain that prior to the following Tuesday.
And, we know the fix is in, so the Obamites will hit the media and the ad campaign with a barrage about the “recoverd economy/forward/don’t change now” by end of day on Tuesday.
Most people see the closed businesses, space-for-rent signs, friends & relatives un(under)-employed and so forth. Most people can put 2 + 2 together. Most people aren’t fooled by these clowns.
Most people see the closed businesses, space-for-rent signs, friends & relatives un(under)-employed and so forth. Most people can put 2 + 2 together. Most people aren’t fooled by these clowns.
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