For the second time in less than a week surprising jobs numbers came into play. This morning the Labor Department reported a four-year low of 339,000 first-time claims.

Some claimed this validated last Friday's jobs report, a silly notion because the two are not that closely related and a single week of data is meaningless.

I still think Friday's jobs report will be revised away, but I am positive today's "surprising" report will be (for the simple reason California forgot to report 30,000 claims).

Please consider Jobless Claims Data Skewed Downward.

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Mike Shedlock

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.

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22 Comments So Far
EarthquakeMcGoon Wrote: Oct 12, 2012 7:37 PM
Remember all those men discussing female contraception, birth control for women and women's health?

Here something to mull over.

"Medicare Benefit Covers Viagra!"

http://www.cbsnews.com/stories/2005/02/01/health/main670833.shtml

Where in the Bible does it say the government should pay for erections in human males? This Republican-controlled Congress gets its Viagra paid for by the American taxpayer.
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EarthquakeMcGoon Wrote: Oct 12, 2012 7:37 PM
Of course, Medicare also covers male contraception; vasectomies.

http://health.costhelper.com/vasectomy.html
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Blair31 Wrote: Oct 12, 2012 3:57 PM
Use the U6 number.
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Pete702 Wrote: Oct 12, 2012 11:20 AM
The politicians of both parties set up how the unemployment rate is done and when people are looking for work, it works fine. The problem is that so many have given up that it has scewed the data. I say, look at the welfare and food stamp rolls for real data. People gotta eat.
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Drifter Wrote: Oct 12, 2012 10:51 AM
And the BO administration lies just keep on comin...
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bigdawgworking Wrote: Oct 12, 2012 10:08 AM
The gov has been cooking the employment numbers and unemployment rate for several years. No one who watches these numbers gives them any credence anymore.
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M1946W Wrote: Oct 12, 2012 9:56 AM
If Obama wins guess which dysfunctional, left coast state, currently $618 billion in debt with four cities already having declared bankruptcy, gets a bailout.
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Chris from Kalifornia Wrote: Oct 12, 2012 9:05 AM
Easy way to fix that. California would quickly get on the ball if the people they are supposed to report to would simply take the previous month's number for California, add about 20% and use that number until such time as CA actually provides the real numbers. That would give them a truer picture of reality and then, when they revise the numbers, they might actually be able to revise them down a bit instead of up. Wouldn't the media love that?
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T.C.7 Wrote: Oct 12, 2012 6:04 AM
Flagged all posts by the sick, disturbed lunatic, KopfShuss.
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capitalust Wrote: Oct 12, 2012 3:09 AM
I know, let's the rest of the the country secede California from the union. Maybe Mexico would like it. Probably totally destroy what little economy they have.
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Paul237 Wrote: Oct 12, 2012 10:51 AM
Your not kidding on that one let me leave first then throw Cali out.
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