A couple of stories here from the Associated Press. The first one: “US Applications for Unemployment Aid Drop Sharply — The number of people seeking unemployment benefits fell last week by the most in nearly a year. The figure was a hopeful sign that hiring could pick up in coming months.”
This is a seesaw. Just yesterday we had the news from ADP that new jobs were paltry, 119,000. Now, this report contradicts what ADP put out yesterday. “US
Applications for Unemployment Aid Drop Sharply,” which means fewer people are supposedly out of work.

Now, we’ve told you before, both the AP and Reuters have made this claim for about six weeks. Back on April 5th, a month ago, AP’s headline: “US Unemployment Claims Hit Four-Year Low of 357,000.” Today’s headline: “US Applications for Unemployment Aid Drop Sharply,” and the first sentence talks about it being lower than it’s been in three months. Reuters on March 29th: “Jobless Claims Fall to Four-Year Low in Latest Week.” They keep talking about how great it is, and then every week the number is revised.

Every week the number is revised, which we don’t hear about. Well, you do because we tell you. But the revised number is never reported. It’s always revised up or worse. The original report that we get from the BLS is never accurate. They do “seasonal adjustments” and “revisions.” So this is a purely political number. AP goes on to say this is “a hopeful sign one day before the government releases the April jobs report.” Now, there’s another AP story, and the headline of this story is: “AP Survey: Steady Job Gains to Sustain US Recovery.”

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