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Higher Jobless Claims = ‘Jobs Market Healing’

From a shameless Reuters:

Jobless claims rise, labor market healing very slowly

by Jason Lange | Thursday August 23, 2012

WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits unexpectedly rose last week, suggesting the labor market is healing too slowly to make much of a dent in the unemployment rate.

Unexpectedly. And how do higher unemployment claims suggest that the labor market is healing — even slowly?

Initial claims for state unemployment benefits rose 4,000 to a seasonally adjusted 372,000, the Labor Department said on Thursday. That was the highest level in five weeks.

But we’re told the labor market is "healing."

The data keeps pressure on President Barack Obama ahead of his November re-election bid. His Republican challenger is trying to focus voters’ attention on a lofty unemployment rate that has dogged Obama’s presidency…

And after all, unemployment is only a problem insofar as it ‘dogs’ Obama’s Presidency.

The report on jobless claims did have a silver lining, however.

The data covers the same week looked at by the government for its monthly measure of employment, and showed a slight drop in layoffs from the survey week last month, which is a mildly positive signal for hiring in August…

Remember how the news media always searched for a silver lining in the jobs reports under Bush?

Meanwhile, from a similarly shameless Associated Press:

Applications for US unemployment aid up slightly

By CHRISTOPHER S. RUGABER | Thurs August 23, 2012

WASHINGTON (AP) — The number of people seeking unemployment benefits rose a slight 4,000 last week to a seasonally adjusted 372,000, evidence that the job market’s recovery remains modest and uneven.

Remember how a jobless increase under Bush would be called "slight"? Remember how it was seen as evidence that the job market recovery was modest? We don’t either.

Applications have risen for two straight weeks. But they are still lower than they were five weeks ago. That suggests hiring could improve slightly this month.

How does the fact that jobless applications have gone up two weeks in a row suggest that hiring will improve? Unless you are trying to propagandize rather than just give the news.

Oddly enough, neither of these articles notes that last week’s already bad new claims number was revised still further up, by 2,000. Which means the jobless number has now been revised up 30 weeks in a row, and 75 out of the last 76 weeks.

Which, by the media’s logic, must be a sure sign that hiring will improve shortly.

This article was posted by Steve on Thursday, August 23rd, 2012. Comments are currently closed.

2 Responses to “Higher Jobless Claims = ‘Jobs Market Healing’”

  1. River0 says:

    Healing? The mugging of every profitable business and looting of the private sector has been ramping up every month for 3 1/2 years. Obummer and his crew use regulations, audits, and public shaming the way Al Capone used a baseball bat.

  2. untrainable says:

    Libs apparently are using the same metric for unemployment that they use for climate change. If it’s hot, it’s proof of climate change. If it’s cold, it’s proof of climate change. If it rains, it’a proof of climate change. If it doesn’t rain, it’s proof of climate change. So no matter how many people are unemployed, underemployed, destitute, foreclosed on, or on food stamps, it’s proof that things are getting better. And the resounding claim from the regime AND the media is that the economy is “doing fine”.

    I’m a scifi fan, so under normal circumstances I don’t have a problem with suspension of disbelief in service to the story, but the believability of the “story” coming out of this regime makes Star Wars look like an episode of the Waltons.

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