Obama Loses 1,747,000 Jobs in Four Weeks: Obama Jobs Failure, as Media Lies Continue

As usual, the number of new jnemployment claims (seasonally adjusted) was reported this morning. Hee are the numbers for the past fou weeks: 404,000 (rvised from 403,000, and a BAD number at the time because it stayed above 4000,000), 4331,0000 (revised from 427,000, and a TERRIBLE number), 478,000 (revised from 474,000, and an INCREDIBLY TERRIBLE number--Armageddon), and today's reported number of 434,0000 (to be revised next week--almost surely upward, as an incompetent media continues to report each week as a concrete number, when the number is always revised and pretty meaningless as an isolated weekly number).


You can see just how BAD this mornings reported 344,0000 new unemployment claims was. It RAISED the four-week average to about 437,000. That is the worst number since the fall of 2010 (fairly early fall). The TWO WEEK number of 912,000 is similarly the worst since the early fall of 2010.. Yes, the number of new unemployment claims (the volatile ONE WEEK number) fell 44,000, but that was only because last week's number was so obviolusly exaggerated the other way. The number of new claims ROSE last week by 47,000. Thus, the AVERAGE for the past two weeks was 456,000, as we did not even return to the same TERIBLE one week number of two weeks earlier (that 41,000).


To put this in perspective, the four-week average from December of 2009 to Well into September of 2010 failed to improve for 10 months--staying in a range of 445,000 (approximately) to 485,000 (approximately). Then that number began--apparently--to improve. By the end of last year, the four-week average was approaching 400,000. For ALL of this year, that average has hovered right around 400,0000--NOT IMPROVING (although dipping slightly below 400,000 at times), but an improvement from the first 9 months of 2010. Now we have regressed almost back to the "bad old day's" of those first 9 months of 2010. We are ALMOST back into that 445.000-490,000 range. Notice that the four-week average will RISE NEXT WEEK, unless next week's number is 404,000 or below. Even that would be BAD, in that the four-week average will still remain above 430,000.


In short, thee job picture, as represented by the number of new unempolyment claims filed, has NOT IMPROVED IN SIX MONNTHS (as Obama has inisisted he is "concentrating" daily on jobs and the economy, while making POLITICAL trips like the one on Tuesday to El Paso for the sole purpose of looking for the Hispanic vote--not exactly "concentrating" on jobs and the economy). Indeed, the job picture seems to be reverting back to the levvel (that 445,000-490,000 weekly new unemployment claim range) we reached starting at the end of November of 2009. The number of new unemployment claims has improved very little in 17 months, as the apparent improvement in the fall of 2010 seems to be in the process of being reversed. As I have consistently shown, the only way these numbers have any meaning is OVER TIME. Over time, the situation is looking really grim. Notice that there is NO NUMBER (no conceivable number) of new unemployment claims that can be reported NEXT WEEK that will be a "goood" number. All you can have is a bad number, or a worse number. The four-week average will remain ABOVE the level of this entire year, not matter what (that is, no matter what conceivable number is reprted next Thursday). These numbers can only improve OVER TIME, as they have gotten worse OVER TIME (always understanding that the number is NOT a hard, concrete number in the first place, as is also true of the other employment numbers).


There are lies, damn lies, and statistics. That old cliche' should be on the tombstone of every modern mainstream media "journalist" (not to mention every economist and Wall Street "analyst"). Yes, the mainstream media LIED about today's reported number, by incorrectly using statistics (after playing down last week's almost inconceibably TERRIBLE number). Here are two correctd headlines:


"Two week average of new unemployment claims highest in more than six months"


"Four-week average of unemployment claims reaches six month high"


Here is a third accurate headline:


"Fall in new unemployment claims fails to match last week''s rise, as average disappoints"


Here is the actual headline from the LIARS of the incoompetent Associated Press, as featured on Yahoo "News":


"Fewer peoople apllied for new unemployment benefits last week"


Then, the truly despicable AP (boycott Yahoo for for essentiallly featureing only the AP, and otherwise pushing leftist propaganda) then went on to say (early i the article, before any caveats) that the number of new unemployment claims fell "more stteply" than any time since February. Yep. The AP failed to not that the 44,0000 fall FAILED to even match the 47,000 RISE the previous week, and that the AVERAGE has reached a truly TERRIBLE level. See how statistics can LIE, in the hands of DISHONEST people like those of the mainstream media? Yes, these are also incompetent people, meaning that you can never be quite sure they even understand the lies they are telling. However, periodically, over the past two years, reportng of this volatile weekly number of new unemployment claims has empasized that the four-week average is the more reliable guage of the number of new unemployment claims than the volatile weekly number. That is usually when the four-wek number fits the AGENDA of the partisan hacks of the mainstream media. My personal opinion is that these people--dishonest that they are--have pretty much given up on the four-week average (realizing, finally, how STUPID their mainpulatioin of "reporting that number seemed to be), in favor of "SPINNING" the weekly number (playing it down when it is bad, and playing it up when it can be SPUN to be a "good" number).


Thus, the mainstream media has treated today's "news' on new unemployment claims as GOOD "news". As shown above, it is actually TERRIBLE news. Economists (using the "metod" I told you about last week, because everyone realized the 474,000 reported last week had to be an exaggerated number) "predicted" today's number of new unemployment claims would come in at 428,000. Everyone new that today's number had to come down from last week's extremely high numbre, or esle we weere again at Armageddon. Yes, it is possible that this week's number could have been worse. That, however, does not change that today's reported number was a TERRIBLE number, under any objective analysis.


But what about the "fact" that the economy "added" 244,000 jobs in April, while the numbers on new unemployment claims were so BAD? Yes, what about that? The economy "grew" in the first quarter by a miniscule 1.8%--a number which economists agree is NOT ENOUGH to "create" a significant number of jobs. New unemployment claims rose in April to the highest rate of the year. The unemployment RATE rose to 9% in April. Thos numbers are INCONSISTENT with the supposed growth in net jobs in Apirl (my hedline referring to GROSS job loss, to satirize Obama's use of GROSS JOB GAIN when it suits his purposes). In other words, all of the employment data is consistent with the other data, EXCEPT the supposed reasonably good (not great) reported net job gain for April. That emphasizes tow things. First this data is SUBJECTIVE, rather than representing hard numbers. Second, the supposed reasonably "good" job 'growth" for April is probably FALSE--inconsistent with the other data.


Q.E.D The mainstream media are composed of lying, incompetnet partisan hacks. And Obama has FAILED on jobs, as he lies about "concentrating" on jobs and the economy. What he is "concentrating" on is his reelection. CAMPAIGNING (where hhe thinks he can say anything, and not be acalled on it, for good reason) is what Obama LIKES to do anyway.


P.S. No proofreading or spell checking, as usual. Here, again, are the terrible reported number of new unemployment claims for the past 4 weeks, after the media had made much of the weekly number falling below 400,0000 fairly consistently (although hovering right around 400,000): 404,000, 431,000, 478,000 and 434,000 (434,000 being this week's number, still to be revised next week). I repeat the numbers just in case I typed them wrong, or otherwise garbled them in the text above.. Any fool can really see how bad those numbers are over the past four weeks, in comparison with the rest of the year. But the mainstream media "journalists" make fools look good.