Unexpectedly Ugly

Recovery Spring!

Expected Initial Weekly Jobless First-Time Filers: To fall to 400,000 from 429,000 last week

Actual Filers (per Drudge): 474,000

That ain’t purdy.

Oh, and of course last week’s numbers got revised…up

The Labor Department revised the prior week’s figure up to 431,000 from an initially reported 429,000.

I love how the Media tries to spin this as not so bad:

The four-week moving average for jobless claims, a less- volatile measure, rose to 431,250 from 409,000.

See? That’s not so bad, now is it?

Until you think about it for a minute and realize that the “less-volatile” measure rose nearly 5.5% in a week.

5 Responses to “Unexpectedly Ugly”

1. Kathy Kinsley says:

   May 5, 2011 at 8:06 pm

   Unexepectedly? Heh (as Insty would – and has – said.)

2. Skyler says:

   May 5, 2011 at 11:04 pm

   I think it’s interesting how they tend to word this type of news, by using words like “highest” and “peak” which normally are associated with positive trends. When I’m scanning the news, I see these words in a headline or first sentence and my mind tends to think it’s good news about unemployment. I have to do a double take to register that it’s bad news.

3. greg newsom says:

   May 6, 2011 at 12:37 am

   All these state and local governments are trying to push their budgets
   over to next year,thinking that things will get better and resolve the crisis.
   If things get worse the sh#t will hit the fan.

4. Mr. Bingley says:

   May 6, 2011 at 8:19 am

   You’re exactly right, greg.

   They’re all counting on a deus ex machina to pull their stones out of the fire.

5. JeffS says:

   May 6, 2011 at 8:47 pm

   It’s not just state and local governments — so is the Federal government. A lot of Federal agencies are doing the same thing.