Let’s start with what I said last week:
“This week I will wager that the Initial Claims for Unemployment for this week is REVISED UPWARD to 385,000.”
This week (from FoxNews):
“The Labor Department says weekly applications for unemployment benefits fell by 19,000 to a seasonally adjusted 366,000 last week.”
And (from CNBC):
“The prior week’s claims data was revised up to 385,000 from the previously reported 381,000.”
WHAT?? Another PERFECT estimate from your truly!!! This weeks government propagandists say:
“Initial claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 366,000, the Labor Department said.”
I will wager that next week this number is REVISED UPWARD to 370,000. Any takers, yet?
I will leave you with two more quotes, first from CNBC and then from FoxNews:
“The unexpected drop in claims last week pushed them closer to the 350,000 mark that analysts say signals labor market strength.”
“When applications fall below 375,000 — consistently — that usually signals that hiring is strong enough to lower the unemployment rate.”
Well, which is it?? 350,000 or 375,000??
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