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AP: Jobless Claims Shoot Up Due To Holidays

From an always happy to explain Associated Press:

Unemployment benefit applications jump to 399,000

CHRISTOPHER S. RUGABER
January 12, 2012

WASHINGTON (AP) — The number of people applying for weekly unemployment benefits spiked last week, largely because companies let go of thousands of workers after the holiday season.

Funny, but when the unemployment claims went down the AP didn’t bother to tell us that it was due to the ‘holiday season.’ Why is that?

The Labor Department said Thursday that applications jumped by 24,000 to a seasonally adjusted 399,000, the most in six weeks. That followed three months of steady declines that brought applications to the lowest level in more than three years.

Isn’t it amazing how often the initial news jobless claims number hits 399,000 – which is just under the 400,000 number. And never mind that this number will be quietly revised up over the 400,000 number.

Just like the previous week’s number was revised up by 3,000. (A detail that the AP always manages to omit.)

Applications typically soar in the first two weeks of the year. That’s because many companies lay off temporary workers who were brought on to help during the holidays.

Again, the AP never told us that applications typically go down in the final weeks of the year because of temporary hiring. In fact, the media reports stressed how the numbers were ‘seasonally adjusted.’

The department tries to adjust for those patterns. But the task is difficult because the data can be volatile

If this happens every year, how hard can it be to "adjust" for it?

The economy gained 1.6 million jobs last year, up from 940,000 in 2010. Economists forecast roughly 1.9 million more jobs will be added this year, according to a survey by The Associated Press…

A survey of the same experts who are always wrong.

The pickup in hiring reflects greater economic growth. The economy will likely expand by more than 3 percent at an annual rate in the final three months of last year, economists expect. Rising consumer spending will likely power much of the gain. That would be a sharp improvement over the 1.8 percent growth in the July-September quarter

Bear in mind all of this is from the AP’s imagination. Their fantasy. They never stop trying to talk the economy up.

Too bad it is easier to talk a country into a recession than out of one.

This article was posted by Steve on Thursday, January 12th, 2012. Comments are currently closed.

4 Responses to “AP: Jobless Claims Shoot Up Due To Holidays”

  1. GetBackJack says:

    The logical thing for Congress to do, then, using the prima faciae evidence of Corollary Equals Causation is to ban these damn holidays.

    I expect Maxine Waters to submit just such a Bill any day now.

  2. proreason says:

    “The economy gained 1.6 million jobs last year, up from 940,000 in 2010.”

    Interesting, since the population is increasing by about 1% per year (3 million+). It used to be that about 1/2 of the total population worked, which means that the job gain, if you can even believe the statistic, barely covered population growth.

    But really, working is so yesterday anyway. Nowadays we have a gubamint that creates money out of thin air, so working is something only the suckahs do.

  3. Reality Bytes says:

    Someone please! We need a “Fool Me Once Fool Me Twice” Ad!

    Obama: “If we don’t pass this bill unemployment will go over 8%!”

    Headline: Unemployment tops 10%

    Unemployed factory worker: SHAME ON YOUUUUUU

    Obama: “Your healthcare cost will go down”

    Headline: Healthcare to add 1 trillion to US debt over ten years.

    Unemployed nurse: SHAME ON YOUUU

    Obama: “The United States military will remain the strongest force in the world”

    Headline: United States abandons ability to fight two front war capability

    Wounded Soldier: SHAME ON YOUUUU

    Maybe have each one join the one before. You could fill a parking lot in no time.

    Just a thought.

    For the record: with Pro as my witness, I posted weeks before Iowa that Rick was my logical choice. Mark Levin’s analysis last night was spot on. He is the most honorable choice. Anything less you can smell a mile off.

    I do admire Gingrich’s attempt to debate the issues. What a missed opportunity ruined by the establishment & media. The debates while the best I can remember turned into mud wrestling. Why the Hell we can’t get the same table & blacked out set Charlie Rose slathered over his career & just have one on one or so candidates just going back and forth over the issues that can save or are killing America is beyond me. It’s very frustrating.

  4. Mithrandir says:

    OLD MEDIA TRICK

    “UNEMPLOYMENT DOWN THANKS TO OBAMA!” —100% of the people will think positively about the economy, and Obama.

    “ahem, after the holidays, those temporary workers were let-go. unemployment is now up again.” –50% of the people will read this and know the obvious, and think the media is fair to report both sides. The other 50% still think unemployment is down, and Obama is fantastic. It’s a gain of 50% positive news coverage, now it’s time to do it again and again, to trick the others into believing.

    They play both sides to make sure they are not accused of bias, but their reporting is not honest, as they try to soft pedal unflattering news to democrats.

    OF COURSE we all know the holidays have temporary workers that will be let go in January, as we know the media will report on December 15th of every year:
    “Shoppers are looking hard for bargains this year…”
    “Stores are really going to cater to discerning shoppers this year.”
    “Shoppers are tightening their belts this year, but there are still good deals to be had.”
    Ugh….


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