Lilguy

Initial Jobless Claims: 570K, down 4K from a week ago (revised) but worse than the 562K consensus. Continuing claims rose 92K to 6.234M.

Again, by comparing last week's revised number (574K) with this week's advanced number (570K), the BLS comes up with a decline in new unemployment apps.

That's apples an oranges.

Last week's advanced number was 570K, exactly the same as this week's advanced number--570K. That's apples to apples.

Having tracked these perturbations weekly this year, I can say that the average increase in the newly unemployed SA number has increased more than 3,400 per week from the "advanced" to the "revised" figure. This week's 4,000 person revision is right on track with that average.

The media effect of comparing the advanced number with last week's revised number is to show a lower increase (or greater decrease) in newly unemployed than actually occurred. The effect on markets is to be expected.

Just more spin from the BLS.