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Real Life New Unemployment Claims Up 28,068

From the disinformation specialists at Reuters:

Jobless claims fall last week, but trend weak

September 20, 2012

WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits fell last week, unwinding some of the weather-related spike during the previous week, but the underlying tone of the report pointed to some weakening in the labor market.

Initial claims for state unemployment benefits slipped 3,000 to a seasonally adjusted 382,000, the Labor Department said on Thursday. The prior week’s figure was revised up to show 3,000 more applications than previously reported. Claims the prior week had been pushed up by Tropical Storm Isaac…

For the record, here is the Associated Press’s headline for the same jobless claims report: ‘US unemployment claims fell last week to 382,000.’

In fact, today’s unrevised number is exactly the same as last week’s unrevised number, 382,000, which was the highest number of new claims in two months. The Department of Labor revised last week’s up by 3,000, so they could say this week’s was down.

In fact, according to the DOL’s own press release: "the advance number of actual initial claims under state programs, unadjusted, totaled 327,797 in the week ending September 15, an increase of 28,068 from the previous week."

In other words, in the real world the number of new unemployment claims went up by a whopping 28,068. But the Obama administration and its news media tell us it went down.

By the way, the new claims number has now been revised up for 34 weeks in a row and 80 of the last 81 weeks. What are the odds?

Economists polled by Reuters had forecast claims falling to 375,000 last week…

They were wrong? They had projected a rosier scenario? What a shock.

There was also no sign the strike by about 29,000 teachers in Chicago had any impact, the official said…

But a storm did.

This article was posted by Steve on Thursday, September 20th, 2012. Comments are currently closed.

One Response to “Real Life New Unemployment Claims Up 28,068”

  1. ilzito guacamolito says:

    From the link – “Economists had attributed a spike in claims in the prior week to Tropical Storm Isaac, but the minimal improvement in the latest reading pointed to fundamental weakness.”

    Doh! They’ve been found out. No sh!+ it’s due to fundamental weakness. Morons.


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