CNBC: Why Jobless Claims May Not Be as Good as Market Thinks
the swiftboating of the jobs numbers....
how much airtime did jack welch get to spew his bullshit? because 'it didn't feel right' to him.
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First it was last Friday's August payrolls report, which showed an unexpectedly large drop in the unemployment rate, that spurred confusion (and conspiracy theories). Now, a sharp drop in the pace of new jobless claims has also left people scratching their heads.
The Labor Department on Thursday said the number of people filing jobless claims last week dropped by a seasonally adjusted 30,000—a pretty sharp decline, and one that left the total number of filings at a four-year low of 339,000.
While the government didn’t note any unusual factors in the release itself, a Labor Department official did tell news agencies covering the release about a quirk which partly accounted for the larger-than-expected drop.
As Dow Jones reported: “A Labor Department economist said one large state didn't report additional quarterly figures as expected, accounting for a substantial part of the decrease.”
http://www.cnbc.com/id/49372827
