Well, another Thursday, another day that the Initial Claims for Unemployment numbers get revised UPWARD!! Last week I said:
“This week I will wager that the initial claims for unemployment is closer to 405,000 than 402,000.”
And this week the unemployment number report says, from FoxNews:
“The Labor Department said Thursday that weekly applications dropped 9,000 to a seasonally adjusted 397,000, the lowest level in five weeks.”
So, let’s see how this works. 397,000 + 9,000 equals 406,000!!! Last weeks number was revised UPWARD to 406,000. I missed the number by 1,000, again. This time to the downside.
I also love how Fox News has the title to their article:
“Unemployment Claims Fall Below 400,000 for the First Time in Five Weeks”
Anyone want to bet?? I will bet that this weeks number will be revised UPWARD to at least 400,000. In fact I will bet that the number comes in at 401,000. Any takers??
Tags: BLS, initial claims for unemployment, labor department
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