« | »

New Jobless Claims Higher Than Expected

It’s Thursday, which means it’s time for our latest surprising unemployment, today via Reuters:

New jobless claims rise in latest week

Thu Oct 14, 2010

WASHINGTON (Reuters) – The number of people filing new claims for unemployment insurance rose to a higher-than-expected 462,000 in the latest week, the Labor Department said on Thursday, while the number of people still collecting jobless benefits fell to an almost two-year low.

First-time jobless claims rose 13,000 in the week ended October 9 from the prior week’s upwardly revised 449,000 seasonally adjusted claims.

Last week’s news jobless claims were revised upward? Again, what a shock.

Lest we forget, last week the Labor Department said new claims had dropped 11,000, which our watchdog media dutifully trumpeted as the best numbers in three months. But that, of course, turned out to be untrue — just as we foretold.

Now the Department of Labor says last week’s new claims only dropped by 7,000, which is a difference of 4,000. So they were only off by over a third.

Still, the Obama administration got the headlines they wanted. And that seems to be what these reports are all about, after all.

The four-week average of first-time jobless benefits, which economists prefer because it smoothes [sic] out weekly fluctuations, rose 2,250 to 459,000.

Economists polled by Reuters had expected about initial 445,000 claims in the latest week.

Which is to say they had hoped for a number under the magic number of 450,000. Which, you will notice, last week’s upwardly revised numbers still miraculously managed to avoid.

Though who knows what they will be when they are finally revised – after the elections.

This article was posted by Steve on Thursday, October 14th, 2010. Comments are currently closed.

7 Responses to “New Jobless Claims Higher Than Expected”

  1. NoNeoCommies says:

    Let’s really “surprise” these folks by eliminating their jobs.

  2. mr_bill says:

    One unexpected development in this story: The MSM finally managed to spell “smoothes” correctly!

  3. Right of the People says:

    Say, haven’t we heard this line before?

    If they ever got the prediction right now THAT would be unexpected.

  4. Coco Q. Rico says:

    lol — didn’t you predict this, Mr Gilbert? You were right.

  5. Liberals Demise says:

    I’m waiting for the regime to come out with “New and Improved” as the banner headline.

« Front Page | To Top
« | »