Initial Claims for Unemployment remain below 400,000, BARELY…

This week will be a quick one….

Last week I said:

“This week I will bet that the TRUE number is STILL ABOVE 390,000 at 391,000.”

And this week the report is (from CNBC):

“Initial claims for state unemployment benefits climbed to a seasonally adjusted 393,000 from an upwardly revised 391,000 in the prior week, the Labor Department said on Wednesday.”

And from FoxNews:

“The Labor Department says weekly applications for unemployment aid rose 2,000 to a seasonally adjusted 393,000.”

That makes ANOTHER PERFECT estimation on my part, and ANOTHER UPWARD revision to the Propaganda Labor Department.  Here is another quote from CNBC:

“Economists polled by Reuters had forecast claims rising to 390,000 from the previously reported 388,000.”

If Reuters would like to hire me as a consultant, I can make BETTER forecasts!!!

Another quote from FoxNews:

“Even so, weekly applications would need to stay below 375,000 consistently to push down the unemployment rate significantly.”

They still have not answered my question about the 375,000 number………or is it 350,000???

I will wager that this weeks number gets REVISED UPWARD to 395,000.  Any takers?

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