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Jobless Claims Up To 474K Unexpectedly

From the perpetually blindsided Associated Press:

New jobless claims rise more than expected to 474K

December 10, 2009

WASHINGTON — The tally of newly laid-off workers seeking jobless benefits rose more than expected, after falling for five straight weeks.

The Labor Department says initial claims for unemployment insurance rose by 17,000 to a seasonally adjusted 474,000. That was above analysts’ expectations of 460,000.

A Labor Department analyst says claims were partly inflated by a surge following the Thanksgiving holiday week, when many state unemployment offices were closed.

The number of people continuing to claim benefits fell by 303,000 to 5.16 million, the lowest level since February. The total unemployment benefit rolls have fallen in 11 of the past 12 weeks.

Why should this have been unexpected? As the article itself notes:

A Labor Department analyst says claims were partly inflated by a surge following the Thanksgiving holiday week, when many state unemployment offices were closed.

Even though the Thanksgiving holiday closing weren’t noted when the AP gave its glowing jobs report last week, some of us noted it would cause the next weeks numbers to go up.

So how could this news be so unexpected? Are the media’s go to economic gurus that oblivious?

Still, who cares?

Unemployment numbers are like Mr. Obama’s Gallup poll numbers — written with a crayon by a six year old. And they are just as “meaningless.”

The recession is over.

Happy days are here again.

This article was posted by Steve on Thursday, December 10th, 2009. Comments are currently closed.

13 Responses to “Jobless Claims Up To 474K Unexpectedly”

  1. proreason says:

    gee, when does the temp hiring for the Holiday season end?

    It couldn’t be that the hiring impacted the last unemployment numbers, could it?

    Certainly, the administration wouldn’t mislead us about that.

    And by the way, when will begin to hear about the restatement of the entire unemployment picture, which will move the numbers up another million or so?

    Is there A SINGLE WORD from this administration that is anything other than a bald-faced lie?

    They live in a fantasy world created 100% by themselves.

  2. “So how could this news be so unexpected?”

    Bias in the national media?? I think there’s a Czar for that…

  3. Liberals Demise says:

    Can’t wait for the crayon mark to tank in January so we can hear another cutesy remark from ManBoob Bob.

  4. Rusty Shackleford says:

    I was looking at the graph for this. Interestingly, it’s pretty stable after about 1940, then starting late last year it takes on a vertical, almost “hockey-stick-esque” appearance.

    Wonder if that will catch on…the hockey stick thing, I mean.

    (Clever, if I do say so myself)

  5. Reality Bytes says:

    “The Sounds of Silence” It’s not just a Simon & Garfunkel song anymore.

  6. BigOil says:

    Quick – lets have another jobs summit so the Democrats can develop some innovative solutions to this problem:

    Print money…spend…tax…borrow…repeat

  7. U NO HOO says:

    “state unemployment offices were closed.”

    Shouldn’t matter, in my state we file claims by phone, never have to see the inside of an unemployment office.

    And direct deposit means we don’t have to enter a bank.

  8. Chuckk says:

    Maybe they need a Czar to handle “unexpected” statistics.

  9. GL0120 says:

    Eleven months in office, every policy, every cabinet member, every czar, his pick, yet somehow this will all be Bush’s fault.

  10. MinnesotaRush says:

    Probably should give these nitwits a “heads up” that this will likely continue to be the case so long as o-blah-blah and his gang continue with their forsaken agendas.

    There’s no need to be caught “unexpectedly”.

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