Initial Claims for Unemployment STILL above 400,000….

Last week I said:

“I’ll wager that the number is 408,000.”

And just like clockwork, The Obama Administration propagandists update last weeks number to……(from FoxNews):

“The Labor Department says weekly applications dropped 6,000 to a seasonally adjusted 403,000. The department revised last week’s figure upward to 409,000.”

Revised UPWARD, AGAIN, to 409,000!!!  Damn!!!  I missed it by ANOTHER 1,000 claims.  Only this time, it was to the downside.  And for those people keeping track of MY estimations, this means that MY estimations over 4 weeks are EXACTLY spot on!!!  You see when, in four weeks, one misses to the downside twice by 1,000 jobs each AND one misses the other two weeks by 1,000 jobs to the upside, the result is a wash.  A PERFECT estimation!!!  With NO REVISIONS!!!  Unlike the Government sponsored propagandists that ALWAYS estimate to low, in order to make the number “sound better” for the Administration.

Well, this week I will wager that the number is 407,000, NOT 403,000.  Any takers??

Also, continuing on with the discussion from last week.  It seems that CNBC cannot get the story straight.  This week they claim:

“This decline in initial claims signals the potential for an improvement in the pace of job creation in October relative to recent months,” said John Ryding, an economist with RDQ Economics. “However, we are still waiting for that decisive move in claims below the 400,000 mark to send a stronger signal that payroll growth is running at a pace that will begin to make sustained inroads into unemployment.”

And the next paragraph says:

“Many economists say applications need to fall consistently below 375,000 to signal sustainable job growth.”

Well, which is it CNBC??  Is it 375,000 or is it 400,000??  OR is it the 350,000, that you reported on August 11?

Also, notice how hard CNBC is trying to make the report POSITIVE.

“…signals the potential for an improvement in the pace of job creation…”

You mean there MIGHT be a CHANCE that things COULD be getting better???  Puhleeeeeeese!!!  I would like to see any jobs report that they tried to make look this good during a Republican Presidents term!!!

Tags: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: