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Reuters: Jobless Claims = Clearer Sign Of Health

From the shameless Obama shills at Reuters:

Jobless claims fall, give clearer sign of health

by Jason Lange | Thu October 25, 2012

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell last week, giving a clearer sign that the labor market is healing after wild fluctuations in claims data at the beginning of the month.

Initial claims for state unemployment benefits dropped 23,000 to a seasonally adjusted 369,000, the Labor Department said on Thursday.

The prior week’s figure was revised slightly higher to show 4,000 more applications than previously reported.

4,000 is not "slightly higher." It is almost twice the usual adjustment. Moreover, bear in mind that is 4,000 new claims on top of the whopping 46,000 new claims reported last week. Which was already the highest number in four months.

And, for the record, this now means the previous week’s numbers have been revised up for 39 weeks in a row, and 85 out of the last 86 weeks. Which is a detail the news media still has never reported.

A Labor Department analyst said all states submitted data for the report and that there was nothing unusual in the raw data. The analyst said the data showed no signs of the factors that had appeared to generate sharp swings in the claims reading over the prior two weeks

It’s funny they should say that after the last two weeks’ finagling. (See below.)

Those signs of improvement appear to have done little to bolster President Barack Obama’s bid for a second term, and there is only one more reading on U.S. unemployment before voters go to the polls on November 6.

Gosh, life is unfair. But it just means Reuters will have to try harder to convince us that recession level unemployment is good news.

Earlier this month, claims swung sharply lower and then higher, which a Labor Department analyst said was likely due to a change in the seasonal pattern that usually manifests at the beginning of the quarter. That distortion in the seasonal data appears to a have passed, the analyst said on Thursday

What a lie. The "distortion" was caused by California misreporting its new claims number. (An accident made by a prominent Obama donor.)

This article was posted by Steve Gilbert on Thursday, October 25th, 2012. Comments are currently closed.

3 Responses to “Reuters: Jobless Claims = Clearer Sign Of Health”

  1. dasher

    While my employer here in Atlanta isn’t hiring like crazy, I get the feeling that if indeed there is no late October surprise sprung on Romney/Ryan, I very much like their chances of winning office. With businesses anticipating a Republican victory, I would think that hiring will be picking up for the forseeable future, holiday hiring notwithstanding.

    Fingers crossed!! Keep up the great work Steve!!

    Dan

  2. GetBackJack

    Lies, damn lies and then … statistics

  3. Right of the People

    When did they change from monthly to weekly statistics?

    Oh I know, when it can help the Ohole. I get it.


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