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Friday, October 19, 2012

LOOKS LIKE "CONSPIRACY THEORISTS" WERE RIGHT AGAIN

So much for last week’s aberration initial claims print of 339K (revised higher of course to 342K). With expectations of an increase to 365K, the DOL just came out with a whopper of a miss, the largest in three months, at 388K, an increase of 46K in one week, which was also the highest print in three months. Remember: this number will be revised to 391K next week. So much for single print indicative of a recovery. As the chart below shows, the rate of change was a 13.45% from last week: the highest in five years! So far, there has been no explanation from the BLS or DOL for last week’s outlier print. And no, last week’s print was not due to  California, which the DOL reported just decreased by 4,979 in the week ended Oct 6, not the required 49K. What is however worse, is that it is becoming increasingly clear that nobody at the DOL knows what is actually going on following a statement by the Labor Dept that “it appeared that state-level administrative issues were distorting the data“, and numbers are simply picked out of thin air. Finally, in truly amusing news, those on Extended Benefits have once again started to rise, after dropping to virtually 0 following expiration of state benefits. 
Source

4 comments:

Anonymous said...

This isn't the only thing we were right about

Obama deception from 2008, free on YouTube

Anonymous said...

This is why informed citizens believe nothing they hear from the government or the state run media. Everything is a lie to protect our liar-in-chief and his allies.

Anonymous said...

But the number 7.8% remains until after the election. A new one comes out the second week of November...
Go figure. The dems really know how to use a lie...

Anonymous said...

Joe, here is some more information.To this 388,000 jobless claims you need to add 120,000 new jobs needed to keep up with population growth here in the U.S.

http://www.washingtonpost.com/business/economy/august-jobs-number-is-likely-wrong-and-a-puzzle-for-politics/2012/09/07/f7f3c31c-f85d-11e1-8398-0327ab83ab91_story.html

The result is that we are 500,000 jobs in a hole. Now the real question is: How many jobs were created in September? According to the most liberal source imaginable -

http://www.dailykos.com/story/2012/10/03/1139069/-ADP-reports-162-000-new-private-jobs-were-created-in-September

only 162,000 new jobs were created.

Do the math. 338,000 jobs in the hole.

every month we go further in the hole yet the unemployment numbers go down? Something stinks.