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AP: Unemployment Claims Hit 4 Year Low!

From a triumphant Associated Press:

Fewer seek US unemployment aid, tying a 4-year low

March 15, 2012

WASHINGTON (AP) — Fewer people sought U.S. unemployment benefits last week, adding to signs that the job market is strengthening.

Applications for unemployment aid dropped 14,000 to a seasonally adjusted 351,000, the Labor Department said Thursday. That matches a four-year low reached last month.

By the way, you will be shocked to learn that the prior week’s already bad number was quietly revised up by another 3,000 new claims. So this weeks’ "four year low" will probably no longer be true when the number is quietly revised up next week.

But why are the number of unemployment claims "seasonally adjusted"? The number of new unemployment claims is not based on a survey like the monthly jobless rate is. It is an actual, countable number. And there is nothing in the seasons that should make them any higher or lower.

So why can’t they just count them and tell us what they are?

The four-week average, which smooths [sic] fluctuations, was unchanged at 355,750. Applications have leveled off in the past few weeks after falling for six months. The average has declined 14 percent since October.

So unemployment applications have leveled off or fallen for the last few weeks, and yet the four week average was unchanged? How does that work?

When applications drop consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate

It is amazing how often this magic number changes.

The steady decline in applications has coincided with the best three months of hiring in two years. From December through February, employers added an average of 245,000 jobs a month. The unemployment rate has declined to 8.3 percent, the lowest in three years

Yes, three months or tremendous hiring has lowered the ‘seasonally adjusted’ unemployment rate by a whopping .2%. (From 8.5% back in December.)

The total number of people receiving unemployment benefits is up slightly. More than 7.4 million received aid in the week that ended Feb. 25, the latest period for which figures are available. That’s about 36,000 more than in the previous week

So once again you have to ask if 36,000 more people are receiving unemployment benefits than last week, how can anyone say that the unemployment rate is going down?

The job market has a long way to go to fully recover from the Great Recession. More than 12.8 million people remain unemployed. And the economy still has 5 million fewer jobs than before the downturn

The AP is admitting that there are "5 million fewer jobs" now than before the recession? That is a pretty stunning admission from them.

But notice how they put the number at 5 million, so they can give President Bush the lion’s share of the blame, since most agree that the country has lost 2 million jobs under Obama.

But the more robust job market has caused many so-called "discouraged workers" who had stopped looking for jobs to start looking again. The work force surged by 476,000 in February and by nearly 750,000 in the past two months.

This really is laughable. But this is what the AP is forced to argue to try to defend Obama’s stewardship of the economy.

This article was posted by Steve on Thursday, March 15th, 2012. Comments are currently closed.

5 Responses to “AP: Unemployment Claims Hit 4 Year Low!”

  1. BannedbytheTaliban says:

    So let me get this right, “The work force surged by 476,000 in February” and 225,000 jobs were added, but the unemployment number remained unchanged. That is sum[sic] fuzzy math.

  2. Rusty Shackleford says:

    This is the numbers manipulation game as told by an ongoing narrative that will “show” a continuous decrease in UE numbers. This is to achieve the (non-existent) magic number of “below 8%” that the national socialists think they need to achieve electoral nirvana for their brainiac president. It’s all a lie. Always has been a lie and will remain a lie until he’s out of office.

    Imagine what would be said about a republican president with the exact same record after three years of this hell.

    • tranquil.night says:

      “This is to achieve the (non-existent) magic number of ‘below 8%'”

      By any lie necessary!

  3. P. Aaron says:

    If the AP couldn’t shill for Obama, they’d be unemployed too.

    • potus4 says:

      We couldn’t be so lucky to have these truth perverters out on their collective arse. How these turds have any shred of credibility is a mystery to me. Anyone with an IQ higher than a pile of rocks should be able to see through the manure they shovel down our throats. Ignorance is bliss I suppose.

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