Item #1 of 2 THEBLAZE.COM – A Texas man’s pregnant wife made it clear she was against having a firearm in their house. However, the husband insisted she learn how to use a gun to protect herself just in case. In fact, it was just a few months ago that he took her out to […]
by Henry Blodget | Oct. 11, 2012, 12:29 PM
It Looks Like The Huge Drop In Jobless Claims Was All Due To One Mystery State
JACK WELCH: Reaction To My Jobs Tweet Was Like Something Out Of Soviet Russia
After this morning’s surprisingly positive jobless claims number was released, three things happened:
Lots of people felt better about the economy
Democrats cheered because they thought the number would help Obama
Republicans seized on confusing reports that the numbers had “excluded claims from one large state” (probably California) and blasted the number as wrong and misleading.
Since then, the argument has raged on, and there have been a variety of different reports and interpretations.
Well, we’re glad to say that we’ve finally gotten to the bottom of what happened.
We spoke to an analyst at the Labor Department. According to this analyst, here’s what happened:
ALL STATES WERE INCLUDED in this week’s jobless claims. Assertions that “a large state” was excluded from the report are patently false.
It is likely that some of the jobless claims in one large state–California–were not included in the claims reported to the Department of Labor this week. This happens occasionally, our source says. When a state’s jobless claims bureau is short-staffed, sometimes the state does not process all of the claims that came in during the week in time to get them to the DOL. The source believes that this is what happened this week.
California claims that were not processed in time to get into this week’s jobless report will appear in future reports, most likely next week’s or the following week’s. In other words, those reports might be modestly higher than expected.
The source believes that the number of California claims that were not processed might have totalled about 15,000-25,000. Thus, if one were to “normalize” the overall not-seasonally-adjusted jobless claims number, it would increase by about 15,000-25,000.
This week’s “normalized” jobless claims number, therefore, might be about 355,000-365,000, not the 339,000 that was reported. This compares to the 370,000 consensus expectation.
In other words, had all of California’s jobless claims been processed in time to make the jobless-claims release, this jobless number would still have been better than economists were expecting–but not as much better as it appeared.
Again, the as-yet-unprocessed claims will appear in future reports. So next week’s number may well be higher than expected.
So, who’s right about today’s jobless claims number?
It seems everyone’s right!
Jobless claims were better than expected, even after adjusting for a possible unusual anomaly
There may have been an unusual anomaly that made this week’s jobless claims look better than they would otherwise have been.
PLEASE SCROLL DOWN TO
CLICK ON ANY OF THOSE TOPICS TO TAKE YOU TO SIMILAR POSTINGS
Posted by Donna Calvin — Thursday, October 11, 2012
Please share this Watchwoman post on Facebook, Linkedin, Google+1, Twitter to all your friends.
Click “Like”, Share, and Leave Comments.
Visit Word Warriorette, a free Yahoo Group, and subscribe to be notified (one email a day) of new posts on Watchwoman.
DISCLAIMER: Beliefnet puts paid advertisements on “Watchwoman on the Wall” blog site including some that would never be approved of by the King James Bible, Pastor Ernie Sanders of Doers of the Word Church, What’s Right-What’s Left Radio Ministry, the Voice of the Christian Resistance, Geauga County Right to Life and Donna Calvin. We at www.WRWL.org do not condone, endorse, adhere to, practice or believe in many of the topics and some of what other bloggers promote or their religions at Beliefnet. However, Mrs. Calvin has no control of what Beliefnet displays. She blogs at Beliefnet because she is in the missionary field ministering to true believers posting articles and commentaries informing pro-life, conservative Christians of recent anti-Christian acts and hostile legislation to God’s Agenda and His Will for the world. Hopefully, unbelievers will read these along with the salvation message of Jesus Christ as written in the Gospel of John, Chapter 3, according to the King James Bible, and be saved. A missionary must go into the unbelievers’ territory to reach them. Her mission is to Proclaim Warning to a Nation that has forgotten their Lord and Savior Jesus Christ, the only Truth, the Life, and the only Way to the One God the Father. (Posted 10/11/12)
BEST OF THE BEST ON WATCHWOMAN
“Inspirational. Do you know for sure?”