Today there was a story in Reuters by Pedro Nicolaci da Costa. The story contained those magic phrases and words ... seasonally adjusted. Unexpectedly.
1930
2010
I have watched the unemployment picture since mid 2008. I have been in the middle of the situation during EVERY season almost three times now. I don't understand why the situation always seems to be seasonally adjusted.
WASHINGTON (Reuters) - U.S. jobless claims jumped to their highest level since October while food and energy costs boosted producer prices, pointing to lingering headwinds for an economic recovery that had been showing renewed vigor.
A surge in exports to their highest level in two years helped narrow the trade deficit, however, an encouraging sign.
Despite the more positive outlook for growth in recent weeks, the job market still appeared to be struggling.
The number of Americans filing for first-time unemployment benefits rose unexpectedly to 445,000 from 410,000 in the prior week, the Labor Department said on Thursday. It was the biggest one-week jump in about six months, confounding analyst forecasts for a small drop to 405,000.
U.S. stock index futures added to losses after the jobless claims data, while government debt prices rose.
"The jobless number highlights the patchy recovery we've seen in the job market and reinforces that it will be a slow process bringing down the jobless rate," said Omer Esiner, market analyst at Commonwealth Foreign Exchange in Washington. "The one bright spot was a further decline in the trade deficit, which should contribute positively to fourth-quarter" growth.
A Labor Department official did note the rebound in benefit claims occurred following the holidays, which may have hindered new applications and created a backlog. Without the seasonal adjustment, claims were up by nearly 200,000 to 770,413.
The story goes on to continue to spin the problem, add all sorts of "facts" that are the typical smoke and mirrors tactics which illustrate how our government has firm control over most big media.
The story went on to report: The U.S. economy has been expanding since the summer of 2009, but the pace of growth has not been sufficient to put a significant dent in the unemployment rate, which remains at an elevated 9.4 percent.
I have lost count of how often I see the same phrase used ...
...filing for first-time unemployment benefits rose unexpectedly ....
Unexpectedly.
It is no comfort that our government, labor department and media have no view of the problem.
Almost a half a million NEW folks filing for unemployment each WEEK yet somehow the government publishes figures of 9.4 or 9.6 percent? The reality is that about 1 in 4 Americans are out of work. The 99ers are no longer counted as are those who just gave up looking for work.
I walk the streets of skid row in Los Angeles many times every week. I see the number of people on the street increase.
Stories like this turn my stomach. The word "unexpectedly" just make me ashamed of our government.
The crowd is growing. Many EDD offices have added armed security people on the floor.
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