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Jobless Up By 21,000 – ‘But Trend Is Positive’

From the Associated Press:

More seek unemployment aid, but trend is positive

January 26, 2012

WASHINGTON (AP) — The number of people seeking unemployment benefits rose last week to a seasonally adjusted 377,000, up from a nearly four-year low the previous week. But the longer-term trend is pointing to a healthier job market.

Applications have trended down over the past few months. The four week average has declined to 377,500…

By the way, you will be shocked to hear that the previous week’s new claims number was quietly revised up by 4,000. From 352,000 to 356,000.

Some economists say the figures suggest further job gains ahead.

Prosperity is just around the corner.

The nation has added at least 100,000 jobs for six straight months. And the unemployment rate has declined to 8.5 percent, its lowest in almost three years

What is so wonderful about 100,000 jobs? We have been regularly told that the economy needs to add "150,000 jobs each month to keep up with population growth alone."

And, lest we forget, we were promised by Joe Biden that the economy would soon be adding 500,000 jobs a month, way back in April of 2010.

"There is more horsepower to this economy than most believe," said Sung Won Sohn, an economics professor at California State University, Channel Islands. "The stars are aligned right for a meaningful economic recovery."

The AP has to go to the Channel Islands of California to find someone who will say what they want said.

The number of first-time unemployment applications rose 21,000 last week, the Labor Department said. Applications had plummeted two weeks ago to their lowest level since April 2008

Unemployment applications have been particularly volatile this month because employers have cut temporary workers hired for the holidays. The department adjusts for seasonal trends. But doing so accurately can be difficult

Because ‘once you practice to deceive, you weave a tangled web.’

Economists forecast that the nation will gain about 160,000 jobs a month in 2012, according to a survey of economists by the Associated Press. That’s up from an average of about 135,000 last year

And when have the economists at the AP ever been wrong before? Except continuously.

This article was posted by Steve on Thursday, January 26th, 2012. Comments are currently closed.

4 Responses to “Jobless Up By 21,000 – ‘But Trend Is Positive’”

  1. P. Aaron says:

    AP forgot o use the word ‘unexpectedly’.

  2. JohnMG says:

    …”said Sung Won Sohn…..”
    …..”The AP has to go to the Channel Islands of California to find someone who will say what they want said….”

    Maybe he said it in Mandarin and the interpreter made a mistake in translation. Ya’ think?

  3. proreason says:

    One of the problems the economy has is that decreasing %’s are more powerful than increasing %’s.

    For example, if years alternate in 10% increases and 10% decreases, at the end of 10 years, the decrease is 5%. It doesn’t matter whether the first year is an increase or not.

    This is one of the reasons why it seems so hard to get out of a hole at a gambling table…and it also applies to an economy. Treading water usually isn’t really treading water….its a spiral downward.

    The fascist government tries to overcome the problem, on paper, by talking in absolute numbers, and by setting the starting point at a favorable month. So in the last 3 years, they claim they have created jobs. Well, there are now actually two million fewer full-time jobs than when the Moron was inaugurated, so how can they claim that. Nothing is impossible in fantasyland. They start the clock at the lowest point of jobs which was sometime in the mid to late part of 2009. You could do the same trick if you have an investment portfolio. Say you had $10,000 in August 2008, which went down to $4,500 in early 2009 (which would have mimic’ed the S&P 500. Since then, your portfio has gone up to $7,500, so you can brag about your outstanding investment skills, having made $3000 in the last 3 years. People actually do that all the time. Never believe what anybody tells you about their investments. People are ashamed to have to say that they have lost $2500 since 2008, so they do the gubamint trick of selecting a favorable starting point. I’ve talked to plenty of people who have invested for decades and never had a bad year. Somehow they still drive old cars and never go anywhere.

    But the bigger issue, by far, is that the two million or so actual jobs that have been lost don’t reflect population growth. Since the population increases at about 1% per year, just to have remained flat, the economy should have added nearly 5 million jobs.

    Let’s review the last 3 years. The economy has lost 2 million jobs when it should have added 4 to 5 million just to tred water. That’s up to seven million fewer jobs today than are required. But the lying marxists claim they have added 3 million because they don’t start the clock until the most favorable month for their propaganda.

    So they are lying to the tune of up to 10 million jobs.

    That’s why you know in your bones, regardless of what they say about it, that the economy is bad. You have friends and relatives who are now destitute. You know people who have lost their homes. You know people who have taken major salary cuts (which they probably don’t let on are as bad as they are).

    You know it’s much much worse than the lying marxists say. Demographically adjusted full-time unemployment is up about 4.6% on the marxist’s watch. And to get back to parity, employment has to increase 4.9% because of the phenomenon I started with. If temp, part-time and self-employed people are counted, it’s even worse. And even that doesn’t reflect the fact that there are many people who really need to work again but can’t find jobs. No statistics count them.

  4. tranquil.night says:

    “The stars are aligned right for a meaningful economic recovery.”

    This has further been confirmed by auspice and entrail reading.

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