ARE YOU NEW HERE? NOT LOGGED IN? PLEASE TAKE A MOMENT TO REGISTER FOR AN ACCOUNT AND LOGIN TO REMOVE THIS WINDOW
Welcome to PatsFans.com. Do you have an account? If not - please take a moment to register for our forum and experience a much smoother experience with fewer ads, along with no longer having to see this notification window. Also learn about how you can receive a free Patriots T-Shirt from the Patriots Official ProShop by CLICKING HERE. Please enjoy your stay here, and Go Pats!
"Initial jobless claims, which are a measure of the number of people recently laid off, fell by 30,000 to a seasonally adjusted 339,000, the lowest level in more than four years."
Followed by a BIG "OOPS!".....
"But the Labor Department spokesman said the numbers were skewed by one large state that underreported its data. The spokesman declined to identify the state, but economists believe California is the only state large enough to have such a significant impact on the overall numbers.
The spokesman said the lack of reporting affected the season adjustment for the week, likely by about 30,000 fewer claims."
__________________ "No one walking this earth knows what is truly righteous"
DONATE TO PATSFANS.COM
RECEIVE A FREE PATS T-SHIRT AND SAVE 15% OFF WHEN YOU BUY FROM THE OFFICIAL PROSHOP!
Free T-Shirt & Save 15% Off!
Like Our Site? Please help support our site and server costs by DONATING TO PATSFANS.COM and receive a FREE PATRIOTS T-SHIRT and SAVE 15% off EVERY purchase you make from PatriotsProShop.com. You'll also receive added benefits to your account including Removing All Ads During Your Experience Here At Our Forum.
NEEDED YEARLY SITE DONATIONS: 345 | CURRENT # OF SUBSCRIBED SUPPORTERS: 98
California has aggressively denied the information that we published yesterday about yesterday's surprisingly positive jobless-claims report, which we got from the Labor Department.
California says the Labor Department was "wrong" that California had not processed all the jobless claims it received last week. California says that the reason California had so few jobless claims is that California's economy is surprisingly good.
We spoke to an analyst at the Labor Department who explained what the Labor Department thought had happened. The analyst said the following:
No states were excluded from the jobless report (this conspiracy theory was flat-out wrong)
One large state, California, reported significantly lower claims than expected. The analyst believed was the result of the state's failure to process all its claims by the end of the week--something the analyst says is "not unheard-of," especially around the end of a quarter. The analyst said that this sometimes happens when state employment agencies are short-staffed.
Any claims not processed last week will be processed this week or next week--they won't disappear. (In other words, this week's report might look surprisingly high).
The analysts believed California's unsubmitted claims might have totalled 15,000-25,000. Thus, if one were to "normalize" yesterday's jobless report, it would have been about 355,000-365,000 claims, versus the 339,000 reported.
when a frickin poll doesn't go the way of the right, they complain about the sample. When job #s don't go their way they cry conspiracy...
I'm shocked, really. I thought it would be Illinois that used creative accounting. What's next, "jobs grew unexpectedly last month as 2,000,000 new jobs were reported in the Chicago area." Don't get me wrong, I would love to see it happen but count me cynical when consumer sentiment and jobless numbers and other indicators vary by huge amounts just before an election....