Remember: the magic number is 400,000
Last week: 382,000 (up)
Moving average: 377,750 (up)
Updates
September 20, 2012: There's always some spin: "... but most states showed lower rates than a year ago ..."
Unemployment rates in August rose in 26 states from July, but most states showed lower rates than a year ago, the federal government reported Friday.But rates rose in a majority of states (no spin, just a data point, for what it's worth), unless there are 57 states as the president claims.
I can't make this stuff up.
Original Post
Key words/phrases in the article to be linked:
- more Americans filed
- concern the labor market is slackening
- more claims than expected (not good)
- last week's numbers revised upward (not good)
- four-week moving average increased (not good)
My favorite line that never fails to be posted: "the increase in new claims adds to concern that the labor market is slackening." These articles never say who is concerned: based on policy decisions of this administration .... permitorium in the Gulf; fiscal cliff; Damocles sword; permitorium off-shore Alaska; killing Keystone XL; EPA killing the coal industry;
But I digress.
Some observations, from the linked article:
- no unusual state data
- Chicago's teachers' strike had no effect (they were out of work for a week; probably paid union benefits; why would they claim jobless benefits? oh, that's right -- it's Chicago)
- no tropical storm to blame
- the "four-week moving average, a less volatile measure than the weekly figures" continues to edge toward the magic number
- analysts suggest that hiring is the problem; if we start to see layoffs --> recession
- analysts suggest hiring will pick up to help with year-end holiday sales (okay)
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