This is HUGE. And they bury it a year later. LIARS.
Posted on 10/07/2010 6:35:53 AM PDT by WebFocus
The number of Americans filing new claims for unemployment benefits unexpectedly decreased by 11,000 last week according to a labor department report released early Thursday.
Initial claims fell to 445,000 in the week ended Oct. 2, from the previous week's revised figure of 456,000. That surprised analysts who were expecting initial claims to come in at 455,000, according to consensus estimates from Briefing.com.
The number of people filing continuing claims -- those who have been receiving unemployment insurance for at least a week -- fell to 4.462 million for the week ended Sept. 25 , a decrease of 48,000 from the previous week's revised figure of 4.510 million. That was, however, slightly higher than consensus estimates that projected a dip to 4.450 million.
The 4-week moving average in initial claims, which smoothes the volatility in week-to-week reports, was 455,750, a decrease of 3,000 from the previous week's revised average of 458750. The 4-week moving average in continuing claims was 4.510 million, an decrease of 27,750 from the preceding week's average of 4.538 million.
On Wednesday, the Automatic Data Processing National Employment Report showed private sector hiring dropped 39,000 in September, against a projected 18,000 increase.
Figures don’t lie but liars figure.
So when do the figures get revised?
More likely they’re behind in processing new claims.
That will likely be revised up from the fudged up numbers.
Wake me up when the next report is called expected.
Why is it when a political poll is within 3%, it’s “statistically tied”, but when an estimate of jobless claims is off by 3% it’s an “unexpected” event?
Lets see... a MILLION more jobs were lost in 2009 than previously reported... 12 months divided into 1,000,000 = 83,333 extra jobs lost EACH MONTH of last year than had been originally reported and already revised upwards!
Obama is LYING, the economy is MUCH worse than is being reported. Obama is an EPIC FAILURE.
bump
445k is still a total DISASTER lost per week.
It has to be under 350k at the least, best 300k to show any growth.
Damn this is BAD.
This is shocking, I tell ya, shocking. I’m calling my broker to go all in today and will now vote straight Democrat on my mid-term ballot!/massive sarc
How come the September unemployment numbers still haven’t come out???
“but when an estimate of jobless claims is off by 3% it’s an “unexpected” event?”
Actually off by only 2.19% to consensus ‘estimates’ and slightly more of a drop from the prior week, and we’ll just wait for them to revise.
More likely they’re behind in processing new claims.
Monday is Columbus Day. Bet all of the claims processing drones were encouraged to use personal time and take a long holiday weekend
HUH? Say What? This is torturous to try to figure out, except we are supposed to think it is good news?
“Only” 455,000 NEW UNEMPLOYMENT CLAIMS. Time for another party at the White Hut! Meshell, pack yoor bags! We’re going on another vaca to In-ja!
Next week this will be revised up to 477,000 and 9.8% unemployment... which are still cooked numbers.
LLS
“How come the September unemployment numbers still haven’t come out???”
Tomorrow. Consensus on that is 9.7. Think that will come in ‘unexpected’ly lower?
do you have a link to that document?
Last week, I believe the figure was 455,000... has it been revised ? If so, was it upwards or downwards?
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