As usual on Friday, the number of new unemploymenbt claims for the previous week wsa released today, and it showed grim news. Either the economy is DETERIORATING, or was jsut never "improving" much in the first place. New unemployment claims (a measure of LALYOFFS, where a HIGHER number is BAD) have NOT IMPROVED this entrie year. We are at a yearly hihg. Was the APPARENT "improvement" at the end of last year merely the new seasonal pattern, as this blog has suggested, repeating the PATTERN of 2010 and 2011? As sated, the DATA would so suggest, as we are now right at that 400,000 level AGAIN, despite overall good weather this winter and spring, after being at the same level in February of 2011. That is right. We have really NOT IMPROVED in the labor market since February of 2011. So much for an "improving trend". No such "trend" has existed THIS ENTIRE YEAR. That may be a surprise to you if yu have made the mistake of listening to the regular media, instead of reading this blog. Correctg headline:
"U.S. Jobless Clains Rise Again, to 388,000, Remaining at Four Month High"
Here is the LYING headline from the psychopathic/sociopathic LIARS at Marketwatch.com (as the wekly media LIES get ever more obvious):
"U.S. jobless claims drop 1,0000, to 388,000"
No. That above headline is OBJECTIVELY a LIE--typi cal of the media reporting of this weekly report. The only other possible headline, with any pretense to the truth, would be:
"U.S. jobless claims stay approximately the same, at 388,0000, subject to revision next week"
Yep, the psychopathic/sociopathic liears of teh media keep insistiang upon comparing apples land oranges. See this blog's CORRECT article LAST WEEK (next week's news, last week), when this blog correctly told you that last week's INITIALLY reported number of 386,000--supposedly a "drop" of 2,000--would be REVISED UPWARD to (probably) 389,000. That is exactly what hapened. Last week's 386,000 was REVISED to 389,0000 (UP 1,000 from the previius week's 388,000), and then the media reports taht the number FELLL 1,000 this wee (from the REVISED 389,000 to the UNREVISED 388,000).
You should see the obvius LIE here. The 388,000 initially reported this week will be REVISED next week. The usual revision is an UPWRD revision of 3,000 or so (although that UPWARD revision has been as high as 16,000 in recent weeks). This means, as this blog's suggested headline reads, that jobliess claims actually ROSE 2,000, on an apples-to-apples basis, and based on the EXPECTED revision nexte week, rather than "dropping" 1,000. It is, of course, worse than that.
Here are the numbers for the past 3 weekss, starting with the number reported this week: 388,000 (to be REVSISED, likely to 391,000 or so); 389,0000 and 388,000. Thus, we have THREE STRAIGHT WEEKS where the number has been close to 390,000--not that far from teh "watershed" number of 400,000, which is recognized as a BAD number showing that the labor makrket is NOT IMPROVING. We need, in fact, to be BELOW 350,000. At this stage in a recovery, we really need to be at 250,000. We DID, for a few weeks in February, getrt right to the 350,000 level, only to now DETERIRATGE back toward 400,000. The FOUR-WEEK AVERAGE has now RISEN SIGNIFICANTLY for 3 straight weeksreally more like six straight weeks, as the number has MUMPED from a HIGH POINT in the previous range (that high pint being around 365,000) to more about 25,000 ABOVE THAT PREVIUS RANGE. Despite the psychopathic/sociopathic liears and incompetents of teh media, this is really BAD news. The labor market is simply NOT IMPROVING. Again, it is either GETTING WORSE, or was never erally (singificantly) improved in the first place.
Do you realize that a number as low as 370,000 next week, which the media would "hail" as a "gereat" "improvement" of 20,000, would realy LEAVE the four-week average at this FOUR MONTH HIGH. That is just how bad the numbers for these last three weeks have been. There have been enough weeks now that we can fairly say: The supposed "improving trnd" in the labor market DOES NOT EXIST. Presdient Obama is "presiding over" a labor market that is NOT IMPROVING, and has not significantly "improved' in MORE THAN A YEAR. Meanwhile, the economic fascists of Wall Street continue to rely upon Bailout Ben Bernanke to BAIL THEM OUT (not you). Fed Charirman Ben Bernanke REMAINS The Worst Failure in the History of World Finance (unliess you are a BENEFICIARY of "Bailout Ben", and the Obama Administratin, ON WALL STREET).
P.S. No proofreading or spell checking (bad eyesight).