Weekly Jobless Claims Drop Proves to Be Short-Lived

Weekly Jobless Claims Drop Proves to Be Short-Lived

Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors.............

Read the entire confusing story.

It seems the numbers are jumping all over the place.

The article jumps from paragraph to paragraph with conflicting information.

Can anyone in the Government please explain this to voters ?

This has more switching than the Libya stories

Last week, California reported a large drop in applications, pushing down the overall figure to the lowest since February 2008.

This week, it reported a significant increase as it processed applications delayed from the previous week. (Read More: Why Jobless Claims May Not Be as Good as Market Thinks )

It seems we get a new cover up story every week lately

They have been doing this so long that they have probably already updated their SOPs. Making this a stadandard action.
They do the same thing with the monthly reports. Make them sound as less bad as they can, then update them a month or so later to the actual numbers. If you can call them that.

It actually makes my head hurt that these media outlets are even still reporting all these bogus numbers.

reply to post by xuenchen


So let me guess.

The BLS reconfigured the numbers and unemployment is now at 3.5%!

YAY! We're saved!

Personally, I'll be looking for the Mass Layoff report to come out on Monday or Tuesday of next week to compare. I'll come back and report then.

The numbers don't make any since any more. That aside has anyone seen a major lack on holiday season hiring? Last year in my area we had lots of places looking to hire temp people for the holidays, this year we have next to none. Just wondering if it was just my neck of the woods.

The weekly numbers constantly shift and change, this is nothing new. The weekly numbers aren't really indicative of much really. The weekly number can and will change for a variety of reasons. You lost your job, went a week unemployed and started a new job the next week, you get counted on the weekly claims report. Students leaving their summer jobs and going back to school trying to get benefits, things like that. That is why the focus is primarily on the monthly and quarterly reports, they give a more clear picture of who is consistently receiving UE benefits.

Yes, the trend is Not your friend.
nXt.....

and the GOP rejoices

yay 2 party system

Update: Mass Layoffs report shows 122,462 people laid off in September 2012.

bls.gov...