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Jobless Claims Drop More Than Expected

It’s Thursday, so it is time for the unexpected unemployment news, today from a surprised Reuters:

Jobless claims drop sharply last week

July 8, 2010

WASHINGTON (Reuters) – New U.S. claims for unemployment insurance fell more than expected last week, government data showed on Thursday, while the number of people continuing to receive benefits in the final week of June was the lowest in seven months.

Of course there is a reason for this latter point. Unemployment benefits are running out all across the nation, while Congress is on yet another vacation.

Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 454,000 in the week ended July 3, the lowest level since early May, the Labor Department said.

Analysts polled by Reuters had expected claims to fall to 460,000 from the previously reported 472,000, which was revised up to 475,000 in Thursday’s report

Note that, once again, the past week’s unemployment numbers have been quietly “revised up.”

So how long will it be before today’s numbers are “revised up”?

This article was posted by Steve on Thursday, July 8th, 2010. Comments are currently closed.

5 Responses to “Jobless Claims Drop More Than Expected”

  1. heykev says:

    Would be interesting to know the “real unemployment” numbers. A number that included all those that have exhausted their unemployment benefits, given up looking for work, never qualified for unemployment, etc.

    I’m quite sure “real unemployment” numbers would be well over 12% if those were included. Like most data we receive from Washington, it’s flawed

  2. untrainable says:

    Check out the U3 vs the U6 numbers. Real… Actual… unadjusted for season, or holiday, or Obama’s whim… The REAL unemployment numbers actually land in the 20’s.

    http://www.shadowstats.com/alternate_data/unemployment-charts

    • proreason says:

      great chart, untrainable. Finally some confirmation of what I’ve been saying for over a year. Actually unemployment is over 20%.

      But now I wonder if it might not really be higher than that.

      Is SGS counting senior citizens who actually need to return to work because the Moron has eliminated their life savings in numerous ways. But of course, they don’t have a chance of finding a job and don’t register on any lists.

      Same thing for moms who need to get back into the workforce.

      What about new workers who also don’t have a chance of finding a job?

      True unemployment is probably over 25% now that the Moron has worked his magic for 18 months.

  3. eaglewingz08 says:

    For most of the past year the unemployment numbers have vacillated within a small range of like 445,000 to 475,000. These are still incredibly high numbers and show that job creation is nil under Obamanomics. Thus as long as these numbers remain in the same range, the job losses are neither unexpected, nor is the 3,000-6,000 ‘underage’ any reason to celebrate as that is a mere 1 percent difference between what was ‘expected’ and what was reported (assuming these reports aren’t fudged). Hardly a reason to celebrate at all.

  4. Rusty Shackleford says:

    The uh-bama plan is working and in overdrive.

    Spend all surplus cash on things that will never materialize, and even cash that we don’t have…so borrow ridiculous amounts of money to leave the nation indebted forever, to a largely political enemy.

    Make sure any hardworking American is forced out of their job. Make it so they cannot find another.

    Undermine the corporate structure of this nation to cripple industry, tax it to non-existence and make the United States dependent on other nations in order to get material goods.

    Punish, hurt, do as much harm to the damned society that has just “been so mean” to everyone else. Anger, hatred, absolutely visible rage from this guy.

    Every day, he smiles inwardly to himself at how much damage he’s doing and says, just like he did about soldiers when he wanted to discontinue their medical care…”They deserve it”. Mussolini played similar games…as did Franco and even Hitler. Yet, the left still insists such activities are signatures of “the right-wing”.

    Why does he shun reporters? A rhetorical question if ever there was one.


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