Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
ALERT: Good or Bad Economic News, Report of Initial Unemployment Claims
Once again, there is an unexplained divergence between CNBC reports of a decrease in initial weekly unemployment claims when, in fact, there was a substantial increase in the number. The media always report the “seasonally adjusted” number. For the week ending April 6, CNBC reported that number of initial unemployment claims filed declined 42,000. The actual, the not seasonally adjusted number, the unadjusted number, was an increase of 37,025 in the number of unemployment claims to 353,933. As I reported previously, we had a report that during one week in March, the actual number of claims had fallen below 300,000, a very good number. It turned out as I reported the following week that it was not repeated and therefore was not a good indication that our economy was beginning to recover.
As a result of CNBC’s declaring that the number of unemployment claims decreased and its failure to mention the actual increase in the number of claims, the stock exchanges opened higher. The analysts who read the actual reports of the BLS will not be fooled but those who do not are misled.
In my opinion, nothing that the administration is doing is promoting recovery. To the contrary, its policies are impeding recovery. Those policies are excessive regulation, higher taxes, and wasteful expenditures.
Comment by ana cone, 5/10/2013:
i agree most definitely that the gov't plays games with the numbers to appease the general public
always coming out with ajusted figures
very good article
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