Initial Claims for Unemployment…

I have not written about the Unemployment rate since February 2nd, I’ve been pretty busy.  I think everyone should know where I stand on the Government Propaganda.  IF there is any confusion please read the previous posts concerning unemployment.  This time I am just going to give a brief summary of what has happened since the last time.

The references are from FoxNews and CNBC:

March 29th:

“The number of people seeking U.S. unemployment benefits dropped last week, the latest evidence that the job market is strengthening.  The Labor Department says weekly unemployment benefit applications fell 5,000 to a seasonally adjusted 359,000. That’s the smallest number of applicants since April 2008.

The smallest since April 2008???  What about LAST WEEK’s number??  They said it was 348,000!!!  But they adjusted it upward to 364,000 this week!!!

“The department also made its annual revisions to the past five years of unemployment benefit data. The revisions significantly increased the number of unemployment benefit applicants in recent months.”

More government massaging!!!  So, they were able to lie about report LOWER numbers than actually occurred in the REAL WORLD and are now “adjusting” all those LOWER estimates in one week!!!  Those “adjustments” SIGNIFICANTLY INCREASE the number of applicants in recent months.  You know…..that time when EVERYONE was “reporting” that things were IMPROVING!!!

and the last quote is PRICELESS:

“More than 12.8 million people remain unemployed and the economy still has 5 million fewer jobs than before the downturn.”

Read that again.  5 MILLION FEWER JOBS available!!!  And that does not say anything about how many NEW ENTRANTS there are to the job pool.  You know…..all those people that have just turned 18 or have graduated from college in the last 3 years and now WANT A JOB!!!

March 22nd:

“Initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 348,000, the lowest level since February 2008, the Labor Department said.  The prior week’s figure was revised up to 353,000 from the previously reported 351,000.”

March 15th:

“The number of Americans who filed requests for jobless benefits fell by 14,000 last week to 351,000, matching a four-year low, the U.S. Labor Department said Thursday. Claims from two weeks ago were revised up to 365,000 from 362,000.

March 8th:

“Jobless claims in the U.S. rose to the highest level in five weeks, climbing by 8,000 to a seasonally adjusted 362,000, the Labor Department said Thursday. Claims from two weeks ago were revised up to 354,000 from 351,000.”

March 1st:

“Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 351,000, the Labor Department said. The prior week’s figure was revised up to 353,000 from the previously reported 351,000.”

February 23rd:

“Jobless claims in the U.S. were unchanged last week at a seasonally adjusted 351,000, the Labor Department said Thursday.   Claims from two weeks ago were revised up to 351,000 from 348,000.”

February 16th:

“Weekly jobless claims in the U.S. fell by 13,000 to a seasonally adjusted 348,000 in the week ended Feb. 11, the Labor Department said Thursday. That’s the lowest level since March 2008, when the U.S. was in the early stages of a recession.  Claims from two weeks ago were revised up to 361,000 from 358,000.”

February 9th:

“On the economic front, weekly jobless claims declined 15,000 to a seasonally adjusted 358,000, according to the Labor Department, hitting the second-lowest level in almost four years.”

358,000 + 15,000 = 373,000 which is an 8,000 upwardly revised number from the previous week of an initially reported 367,000!!

How many times can the news outlets claim that this weeks number is the LOWEST since whenever, before the public says “but this is HIGHER THAN LAST WEEK”??  At least twice in the last month they have said that 348,000 is the lowest since 2008!!!  I call BS!!!  You do NOT get to lie claim, INCORRECTLY, that this weeks number, which WILL BE REVISED HIGHER NEXT WEEK, is the lowest in 4 years, and THEN DO IT AGAIN LATER AFTER YOU “ADJUST” THE NUMBER TO REALITY!!!

So to summarize we have had 8 + 3 + 3 + 2 + 3 + 3 + 2 + 14 = 37,000 initial claims “ADJUSTMENTS” in almost 2 months.  NOT including the adjustments that were made this week, which SIGNIFICANTLY INCREASED the number of applicants in the last few months!!!  Still we do NOT have a single month where the “revision” is “downward”, which means that the government propagandists, that call themselves statisticians, ALWAYS underestimate the initial claims in order for it to appear that the jobs picture is improving.  Do NOT forget that we still have 5 MILLION fewer jobs, and this, AFTER WE HAVE “STIMULATED” with TRILLIONS of worthless dollars!!!  Thanks Mr. Obama, Mr. Bernanke, Mr. Geithner, great work!!! (sarcasm off)

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