Last Thursday the MSM was doing back flips and proclaiming the long awaited Obama jobs recovery had arrived, when unemployment claims supposedly plunged by over 30,000 in one week. Myself, Denninger, Zero Hedge and MISH all called it bullshit and lies. The MSM then arrived to scorn and ridicule those who would question the integrity of the Federal Government drones. Well guess what? Unemployment claims EXPLODED skywards by 46,000 this week and, as usual, last week’s number was revised upwards for the 83 week in a row. What is the statistical probability of that happening?
Your government manipulates every number you see. They are attempting to hide the truth. So it goes.
Reality Storms Back As Initial Claims Explode Higher By 46K From Last Week’s Upward Revised Aberration
Submitted by Tyler Durdenon 10/18/2012 08:42 -0400
So much for last week’s aberration initial claims print of 339K (revised higher of course to 342K). With expectations of an increase to 365K, the DOL just came out with a whopper of a miss, the largest in three months, at 388K, an increase of 46K in one week, which was also the highest print in three months. Remember: this number will be revised to 391K next week. So much for single print indicative of a recovery. As the chart below shows, the rate of change was a 13.45% from last week: the highest in five years! So far, there has been no explanation from the BLS or DOL for last week’s outlier print. And no, last week’s print was not due to California, which the DOL reported just decreased by 4,979 in the week ended Oct 6, not the required 49K. What is however worse, is that it is becoming increasingly clear that nobody at the DOL knows what is actually going on following a statement by the Labor Dept that “it appeared that state-level administrative issues were distorting the data“, and numbers are simply picked out of thin air. Finally, in truly amusing news, those on Extended Benefits have once again started to rise, after dropping to virtually 0 following expiration of state benefits.
Eddie says:
It’s all about the sound bite when they annonce the “improvement”. Nobody ever mentions the revisions…the public’s memory isn’t long enough to remember what happended last month.
“Psychic cripples”.
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18th October 2012 at 11:49 am
DaveL says:
President Obama had his Labor Secretary announce a short time ago, that as of tomorrow, everyone will be considered employed until after November 6th.
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18th October 2012 at 12:24 pm
Kill Bill says:
Where do you think Enron, Solara and Bain learned their accounting tricks?
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18th October 2012 at 12:32 pm
Persnickety says:
Shocked! Shocked I say!
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18th October 2012 at 12:48 pm
Hope@ZeroKelvin says:
Gosh, I guess that all these unemployed people are the reason for the high gas prices, cuz gas prices have risen right along with the rise in the unemployed.
I’m using Obama logic here.
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18th October 2012 at 1:32 pm
Stucky says:
Just watch and see what happens the week before the election;
1)– Jobless claims —- 27,501 ……………. An all time low, praise Obama!!!!
2)– Unemployment —– 5.3% ……………. An all time low, praise Obama!!!!
3)– Inflation —— ZERO PERCENT …….Praise Obama!!
4)– Manufacturing —- up 127% ………… Full Recovery!!!
.
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Obama wins 2nd term. Previous week’s numbers are adjusted. People wonder, “Did I just get fucked in the ass, and why did I like it?”. TBP immediately gets 127,472,001 new posters.
Just watch and see …..
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18th October 2012 at 1:55 pm
Maddie's Mom says:
lmao
It’s SO obvious.
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18th October 2012 at 2:31 pm
Muck About says:
What it does is simply prove that our Federal Government is corrupt and lies and steals. So why not the individual citizen be corrupt and lie and steal (witness the vast number of “disability” cases being approved compared to two years ago when unemployment lasted longer).
Corruption starts at the top and filters down to the bottom. If the boss is a lying cheat, what do you have to lose to be one too? And so it goes until the society is a pile of lies, scams and frauds.
Gee – something like we have now.
MA
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18th October 2012 at 2:50 pm