It’s Jobless Number Revision Thursday!
Just last week they told us it suggested “tepid recovery trends” to continue.
“Initial claims for state unemployment benefits increased 6,000 to a seasonally adjusted 386,000, the Labor Department said. The prior week’s figure was revised up to 380,000 from the previously reported 377,000.” So in reality, if you run the numbers out, the claim is up 9,000 from last week’s report. For the record, this latest revision means that the weekly jobless claims number, as Jeff here said, has now been revised up 21 weeks in a row — and 66 out of the last 67 weeks. Unexpectedly rose. Unexpectedly!
Reuters also said, and I quote, “Claims remain trapped in the tight band established since April.” So the news media is even resorting to blaming “tight bands” now instead of Obama. So unemployment is up “unexpectedly,” and the regime is privately admitting to themselves that there’s not gonna be any miraculous economic recovery news to report between now and the election. And here’s another Reuters story:
“US consumer prices fell in May by the most in over three years as households paid less for gasoline, possibly giving the US Federal Reserve more room to help an economy that is showing signs of weakening.” Wait, I thought the private sector was just fine. Now we got an economy “showing signs of weakening.” But now the Fed “might have more room to help an economy.” “Another government report on Thursday pointed to persistent weakness in the labor market…” Another bad week for America.