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Initial jobless claims dives to 292K

Comments (7)
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    That's a huge improvement in terms of direction in the last few months, yet somehow job creation was revised down from prior months. Something is not quite adding up!
    12 Sep 2013, 08:45 AM Reply Like
  • tom_t
    , contributor
    Comments (268) | Send Message
     
    It's all utter nonsense.
    12 Sep 2013, 08:49 AM Reply Like
  • mrdirt
    , contributor
    Comments (440) | Send Message
     
    Companies are not hiring and if they are its temp/part timers, but then again How lean can companies get? Did Labor Day Holiday have an effect?
    Interest rates are starting to rise dramatically, and mortgage lenders such as Bank of America, Wells Fargo and JPMorgan Chase are all cutting thousands of mortgage-related jobs or
    http://bit.ly/15WrQxq
    12 Sep 2013, 09:06 AM Reply Like
  • jhooper
    , contributor
    Comments (5493) | Send Message
     
    http://bloom.bg/17YOWWi
    12 Sep 2013, 08:46 AM Reply Like
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    Jh,

     

    Good link. Almost comical. These are the people who are the definitive sources of data? Where they counting on their toes previously?

     

    "Jobless claims in the U.S. declined last week to the lowest level since April 2006 as upgrades to computer systems in two states caused those employment agencies to report fewer applications.
    An agency spokesman said that the upgrades played a major role in the drop in claims. ."
    12 Sep 2013, 08:56 AM Reply Like
  • Prosch
    , contributor
    Comment (1) | Send Message
     
    "...the majority of the decline appeared to be because two states were upgrading their computer systems and did not process all the claims they received during the week." ~CNBC
    12 Sep 2013, 08:57 AM Reply Like
  • mrdirt
    , contributor
    Comments (440) | Send Message
     
    On the surface great news. The problem once again is that this was a bold-faced lie. Only this time even the BLS admitted as much:

     

    LABOR SAYS CLAIMS DROP DUE TO COMPUTER UPGRADES IN TWO STATES
    LABOR SAYS FAULTY REPORTING BY STATES RESPONSIBLE FOR DROP
    Specifically, a larger state and a smaller one that retooled their computer networks still provided the Labor Department with applications counts. Furthermore, the BLS also said that the decrease in filings probably didn’t signal a change in labor-market conditions. In other words, the number is garbage, and the BLS knows the reporting is faulty, but let's go ahead and report it anyway.
    http://bit.ly/18SSj15
    12 Sep 2013, 09:12 AM Reply Like
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