U.S. weekly initial jobless claims rise 6,000 to 371,000 or down by 18K... which is it?

[Breeze54]

Un-f**king-believable! :grr:

can't all these idiot liars get their facts straight?

---------------------------------

U.S. weekly initial jobless claims rise 6,000 to 371,000

http://www.marketwatch.com/news/story/us-weekly-initial-jobless-claims/story.aspx?guid=%7BAA2E27FE-AEE3-4858-9F24-83F466013674%7D&dist=msr_1

Trend for continuing claims remains above 3 million

By Ruth Mantell, MarketWatch

Last update: 8:33 a.m. EDT May 15, 2008

WASHINGTON (MarketWatch) --

The number of people filing for the first time for unemployment benefits rose 6,000 to 371,000, on
a seasonally adjusted basis, in the week ending May 10, the Labor Department reported Thursday.
The four-week average of initial claims, which smooths out one-time factors such as bad weather
or holidays, fell 1,000 to 365,750.

In the week ending May 3, the number of people collecting benefits gained 28,000 to 3.06 million -
the highest level since March 2004. The four-week average of continuing claims increased 15,250 to 3.02 million -
- the highest level since April 2004. Compared with last year, both initial and continuing claims are up about 23%.

Initial claims represent job destruction, while the level of continuing claims indicates how hard
or easy it is for displaced workers to find new jobs. The insured unemployment rate, representing
the proportion of those covered by unemployment insurance who are receiving benefits, remained at 2.3%.

Claims have been volatile in recent weeks, reaching a nearby peak of 406,000 in late March. During
recessions in the past, first-time claims have typically risen to at least 400,000 and remained
there. In this downturn, rather than fire workers, employers have been cutting hours and forcing
them to work part-time.

BUT....

Thomson Financial News

http://www.forbes.com/markets/feeds/afx/2008/05/08/afx4985442.html

U.S. weekly jobless claims down 18,000 to 365,000; continuing claims down 10,000

WASHINGTON (Thomson Financial) -

05.08.08, 9:54 AM ET

In the latest week, the number of individuals filing new claims for unemployment insurance fell
below expectations, while the number of those continuing to receive unemployment insurance fell
but were above expectations, the Labor Department said today.

The number of first-time claims filed in the week ending May 3 fell 18,000 to 365,000, below the
370,000 claims economists polled by Thomson's IFR Markets were expecting.

The four-week moving average for initial claims increased 2,500 to 367,000. Economists prefer
the four-week moving average because it smooths out fluctuations in weekly data.

For the week ending April 26, the number of individuals continuing to receive unemployment
insurance fell by 10,000 to 3.020 mln, above the 3.000 mln claims economists were expecting.

:banghead:

[RB TexLa]

1. The real numbers are up, but they are lower than what was expected.

those facts are straight forward and listed in what you pasted.

[Breeze54]

2. Try doing a search for it....

I had to make a concerted effort to get the first article...
All I'm saying is there are more stories claiming unemployment
claims are down... and they aren't.

"unemployment claims increased 16750"

[Jim__]

3. Forbes is full of shit!

MarketWatch is quoting the latest week, May 10: The number of people filing for the first time for unemployment benefits rose 6,000 to 371,000, on a seasonally adjusted basis, in the week ending May 10,...

Forbes bullshit headline is for the week of May 3: The number of first-time claims filed in the week ending May 3 fell 18,000 to 365,000 ...

Why would they headline the old week and ignore the current week?

[bananas]

5. The Forbes article is dated May 8, so they can't use data ending May 10. nt

[Breeze54]

6. Finally found a current Forbes posting... from the AP

Jobless claims up in sign of further weakness

http://www.forbes.com/feeds/ap/2008/05/15/ap5013241.html

By MARTIN CRUTSINGER 05.15.08, 8:58 AM ET

WASHINGTON -

The number of newly laid off workers applying for unemployment benefits rose slightly
last week, indicating the weak economy was still weighing on the job market.

more...

[islandmkl]

4. don't the unemployment claimants 'fall off' the charts after their claim period expires?

...they may still be unemployed, but the government 'can't track' them because the payments have ceased...

VOILA!!...we'll just act like they are employed (statistically)...

[Breeze54]

7. If someone stops getting checks, they are no longer counted.

Yes... :(

[InkAddict]

8. Not counted even before being counted then, because one doesn't

get checks in Ohio--direct deposit or VISA debit card...BIG BROTHER IS WATCHING...Note to self: don't buy any veggie fertilizer (for the garden) and fuel on the same day...

[Breeze54]

9. But they are counted if they get $$... I meant when ALL $$ stops

Method of payment isn't the issue.