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AP: Jobless Claims Hit Near 3 Year Low

From a relentlessly sunny Associated Press:

Unemployment aid requests fall to near 3-year low

By Jeannine Aversa, AP Economics Writer
March 3, 2011

WASHINGTON – The number of people requesting unemployment benefits last week plunged to a nearly three-year low, bolstering the likelihood that companies will increase the pace of hiring this year.

Applications for unemployment benefits fell by 20,000 to a seasonally adjusted 368,000, the Labor Department reported Thursday. It was the third decline in the last four weeks. Applications are now at their lowest level since May 2008.

The four-week average for applications, a less volatile figure, fell last week to 388,500. That’s the lowest level since July 2008, the last time the four-week average was below 400,000

Analysts are predicting strong job gains in the February employment report, which the government will release on Friday.

Bear all these cheery tidings in mind for the predictions the AP has buried near the bottom of this piece.

Brightening the outlook for more aggressive hiring, the manufacturing sector is growing at the fastest pace in nearly seven years and retailers are reporting strong gains for February after the best holiday shopping season since 2006

Huh? We thought the holiday shopping season was off – which our news media tried to blame on the bad weather.

Employers probably added 175,000 new jobs in February, economists predict. That would mark an improvement from an anemic 36,000 in January when snowstorms and bad weather hurt job gains. The government releases the employment report for February on Friday…

And yet throughout January we were told that the weekly new unemployment claims had gone down. Go figure. In any case, these rosy job predictions from the ‘experts’ seem to be the kiss of death.

At the same time, economists think the unemployment rate edged up to 9.1 percent in February as more jobseekers — perhaps feeling better about their prospects — stream into the labor market looking for work

What’s this?! New unemployment claims have ‘plummeted’ for three out of the last four weeks. And yet the ‘experts’ think last month’s unemployment rate has actually gone up over the last four weeks?

It would be hilarious if it weren’t so unfunny.

This article was posted by Steve on Thursday, March 3rd, 2011. Comments are currently closed.

20 Responses to “AP: Jobless Claims Hit Near 3 Year Low”

  1. Rusty Shackleford says:

    “It’s exactly the same…only it’s different”

    And: “That was unexpected”

  2. GetBackJack says:

    (I unexpectedly am banging my head on the wall)

  3. GetBackJack says:

    http://www.brianmicklethwait.com/culture/SallyFakeButAccurateTV.jpg How the AP sells their Truthiness In Reporting

  4. proreason says:

    Cancel those state budget crises. It’s party time again!!

  5. Astravogel says:

    Forgive them Father, for they know not
    that they are imbeciles, for expecting us
    to believe their prophicies. With apologies
    to JC.

  6. Rusty Shackleford says:

    *THUMP*, *THUMP* scraaaapppe

    (The sound of the wheels falling off)

  7. untrainable says:

    Pigs and donkeys are warming up on the tarmac, and satan just called to say it’s snowing in the east end of hell.

  8. wardmama4 says:

    Still again – these figures are not nor ever had include people such as us – Who NEVER were able to get onto the vaulted ‘unemployment’ rolls in the first place. We sit still looking for jobs (and somehow still being blessed by God with money coming in every month to keep us going). And we are in those numbers – Unemployed, looking for a job in a market that isn’t hiring.

    Astravogel – I do not think you are correct – I think it is Condemn them Father for they are Intentionally harming us, lying to us and blaming us – while pretending to be doing something to help/fix the situation. There is a big difference. And I think that they all (Liberals, Democrats, Leftists, elites whatever you want to call them) – believe We are the imbeciles – and that too is intentional. And also wrong.

  9. Liberals Demise says:

    “…..bolstering the likelihood that companies will increase the pace of hiring this year.”
    Likelihood?
    What is that clucking sound in the back ground?
    “The four-week average for applications, a less volatile figure, fell last week to 388,500.”
    If it were not for the “less volatile figure” I’d submit this to the bullshitte meter.
    “Brightening the outlook for more aggressive hiring, the manufacturing sector is growing at the fastest pace in nearly seven years”
    In what country are we gauging this on, hmmm?
    “Employers probably added 175,000 new jobs in February, economists predict.”
    Probably and predict are the words that make this a defunct sentence.

    I’d go on but I feel a need for a beer and to scratch my a$$.
    Did you ever see a lawyer commercial where they run the small print
    very fast and at the very end?
    Samey-same here!

    • Rusty Shackleford says:

      You’re absolutely correct. It seems to me that they put the newly hired journalism grads into the unemployment department before they let them write any more lies for AP. They want to make sure their new-hires don’t overuse the words “like” and “totally” first. Once they pass that test they are assigned to a tutelage under some experienced liar who really knows how to spin a yarn. Plus, during this first year of apprenticeship they have to attend all the parties, partake of the pot-smoking and binge drinking and maintain conversational hatred of all things conservative. They also are required to have watched “Easy Rider” and “Dr Strangelove” and be able to recite why they are important (to liberals) without hesitation. They must also be able to recite, surreptitiously, the code of being a liberal and why it is “the man” who is the enemy. “Jews are evil and selfish, muslims are just like anybody else and if they are violent, it’s Bush’s fault, The United States is an evil empire, Black people are cool and have rhythm and are good at sports and need to be uplifted to positions of authority, Being white is the original sin, drugs can be managed by the user, socialism is the answer when the right people do it, war is always bad…always…Military people only want to kill other people, they have no heart at all….

      etc., etc.

      Like Rush, I understand the enemy. I also believe that 99.99% of the time, it is irreparable.

    • Liberals Demise says:

      I’d like to buy you a beverage of your choice, Rusty!!

  10. retire05 says:

    Here is the technique used by the MFM to report job losses:

    Acme Fireworks has 100 employees.

    So during the Bush administration the MFM reported this:

    December, 2008 – Acme Fireworks lays off 30% of its workforce. (30 people)

    Then Obama is inaugurated:

    January, 2009 – Acme Fireworks announces it has slowed down its layoff to only 25% this month. (18 people)

    February, 2009 – Acme Fireworks announced layoffs continue to slow down with only a 20% reduction in its workforce. (another 14 people laid off)

    March, 2009 – Acme Fireworks reduces layoffs to 10% (another 7 people)

    April – Acme Fireworks announces it is closing its doors. Owner says he is going to work for National Fireworks. Job market looks good for coming months.

    • Liberals Demise says:

      I’ll file this under, “Hot, Sweet and Sticky”.
      Great choice of wordage and analogy.


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