"WASHINGTON (MarketWatch) -- The number of people applying for initial state unemployment insurance benefits fell 11,000 to 457,000 in the week ended July 24, the Labor Department reported Thursday."
The above quoted paragraph is how Marketwatch described the weekly report on new unemployment claims (for the previous week), which is a measure of LAYOFFS (gross jobs lost--just like Obama likes to "measure" GROSS jobs "created/saved"). Here are the real facts (which you get nowhere else):
Here is the new unemployment claims number for the past 6 weeks; 459,000, 475,000, 458,000, 429,000, 468,000, and 457,000. Note that last week's REPORTED number was REVISED upward by 4,0000, to 468,000 (instead of the reported 464,000). That has been pretty consistent over the past two months--a revision UPWARD of 3,000 or so every week. If that pattern were continued, the REVISED number for this week will ba about 460,000. Note that we will not know until next week, and that number is NEVER publicized (by the corrupt liars in the mainstream media). Note, also, that I have tried to give you the REVISED numbers in the six weeks of numbers set forth in this paragraph, but the reporting is so deficient and confused that one or more of the Numbers may be slightly off. For example, the 429,0000 is the "reported" number--as I never saw the revised number for that week. And I did not take the time (and trouble, for me, in navigating their site) to check the Labor Department website. I have my own week by week numbers, which are more useful to me in that they show the CORRUPT REPORTING of this information.
What do these last six weeks of new unemployment claims tell you? Well, if you throw out the high and the low you have an average of above 460,000--right where that average has been for MONTHS. Further, three of the six weeks are right around the same number: right around 460,000. What all of this shows is that the reported 429,000 number of tw weeks ago was FALSE. The 468,000 number reported last week indicated that--as I said last week--but this week's number confirmed it. The revision upward of last week's number makes the "drop" this week look "better", but all we have done is return to the same level at which we have been 3 of the past 6 weeks. If last week's number had stayed at the reported 464,000, this week's number would have "dropped" at pretty minuscule 7,000 (BEFORE revision next week, which might still make the "drop" about that).
Point: We are NOT IMPROVING. Indeed, Obama and the Democrats have NOT IMPROVED the labor market in EIGHT MONTHS. The average new unemployment claims for all of DECEMBER (2009) was a weekly average of 455,000. At best, you can say that we are about the SAME.
Yes, even including the FALSE 429,0000 number, the 4-week average is pretty much right at the December level. And it is clear now that the 429,000 is a false number, which needs to be disregarded. Even the corrupt liars at the AP finally got this point (while Marketwatch still made a point of the TAINTED "four week average"). The AP noted, in its story, that Government motors, and other manufacturers, had "skipped" their "traditional" summer shut down in the first two weeks of July. That totally messed up the "seasonal adjustment", and resulted in that 429,0000 false number. But you can look at the numbers alone, and see that the 429,0000 does not fit. It is totally out of step with the weekly numbers for the past month, the past two months, the past three months, and really for the past 8 months. It is a sign of how BAD Obama's failure has been that even that 429,000 false number has been unable to bring the four week average (above 452,000, counting the 429,000) any significant amount below the average for December.
There you have it. NO IMPROVEMENT for 8 months in layoffs. President Obama has utterly FAILED on "jobs, jobs, jobs". It is not just that the number is still high ("remains elevated", in the words of the corrupt AP, even as the AP tries to "spin" by saying the number has "dropped" three of the past 4 weeks). The number is NOT IMPROVING. We are STUCK--stuck in a BAD place.
And the worst part of it is that Obama and the Democrats have BANKRUPTED us--robbed from the future--on the promise that their policies would help the present (the "present" meaning now--which was the short-term future Obama promised us would be improved by his policies). We would have been--that is, the Federal Government would have been--much better off doing nothing.
P.S. The weekly jobless claims number (new unemployment claims for the previous week) is not an OBJECTIVE number (not a matter of mere "counting"). Indeed, that is true of almost all unemployment and employment numbers. These are SUBJECTIVE numbers ("seasonally adjusted" by a formula designed by fallible human beings). The idea is to filter out the distorting seasonal patterns (think "Christmas" to see wy) to get a "real" picture of what is happening in the underlying economy. The problem is that the "adjustment" can distort just as badly, if it is flawed. That is why these numbers should NEVER be "reported" as exact numbers. These numbers should always be put in context over time. Further, it is my firm opinion that real "journalists" would report the RAW numbers (the mere "counting", before adjustment), as well as the adjusted numbers. You say the people would not understand this? HOGWASH. I can state for a fact that the people of the mainstream media don't understand these numbers. That is because they are STUPID, and because they have an agenda. I have more confidence that regular people can handle FACTS, instead of not only having everything "filtered" for them, but not even having the filtering explained to them.