At AP, 13K Jump in Jobless Claims After 10K Added to Previous Week Is a 'Tick Up' With 'Leveling Off'
Today's Unemployment Insurance Weekly Claims Report from the Department of Labor revealed that, after seasonal adjustment, 380,000 Americans filed initial applications for unemployment benefits the week ending April 7. That figure was 13,000 higher than the week ending March 31. The AP headline at Christopher Rugaber's report as of 9:18 a.m.: "US applications for unemployment aid tick up."
Additionally, the March 31 initial claims figure of 357,000 was revised upward to 367,000. So the April 7 figure of 380,000 -- even before it almost certainly gets revised up next week (upward revisions have occurred in 53 of the past 54 weeks I have tracked) -- is 23,000 higher than what DOL initially reported for March 31. Yet Rugaber didn't tell his readers about the degree of the revision to March 31. Several paragraphs from the AP report, which contains an excuse which seasonal adjustment if done correctly by DOL should have covered, follow the jump (bolds are mine):
Story Continues Below Ad ↓US applications for unemployment aid tick up
More people sought unemployment benefits last week, suggesting that the job market's recovery remains slow.
The increase also likely reflects some seasonal volatility because applications for unemployment aid frequently rise around the Easter holiday. Many school employees are temporarily laid off during spring breaks and can file for benefits.
Weekly unemployment benefit applications jumped 13,000 to a seasonally adjusted 380,000, the Labor Department said Thursday. The previous week's figures were also revised higher. The four-week average, a less volatile gauge, rose to 368,500.
After steadily declining since last fall, applications have leveled off in recent weeks. ...
The increase "doesn't ring any alarm bells," said Ryan Sweet, an economist at Moody's Analytics. "Applications can be choppy."
But the trend bears watching, he said.
Business Insider's daily email carried a consensus prediction of 359,000.
Here's the AP's definition of "leveled off in recent weeks":
Really, Chris? A half-dozen more weeks of such "leveling" and we'll see ourselves smack dab in the middle of a recession (not that I'm predicting one; I'm just saying that you don't see claims jump like they have in the past two weeks and try to call it "leveling off").
The furiously spinning headlines and content at the AP, aka the Administration's Press, continue to get ever more embarrassing. Subscribers pay for this stuff? If I were one, I would be "ticked off" at the pathetic "tick up" reporting.
Cross-posted at BizzyBlog.com.
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Comments
Furthermore....
Submitted by almostacowboy on Thu, 04/12/2012 - 11:04am.
when the figure is revised upward in a month, and it will be, there will be little, if anything, said.
Never expect anything from AP
Submitted by John21 on Thu, 04/12/2012 - 11:24am.
Never expect anything from AP that would make there hero, Mr. Obama look bad. The AP is the "Cheer Leader" (with the same limited mental capacity) for the Obama administration and has been since the beginning. You should not expect to hear truth or honest evaluations from Obamabots.
“If you don't have a record to run on, then you…make a big election about small things.” -- Barrack Obama
Bad Act
Submitted by bmac32 on Thu, 04/12/2012 - 11:25am.
what the AP doesn't think people are laid off. They spin the numbers anyway they want but when some of you neighbors are out of work it's pretty easy to notice that. Wait until summer help is added and they spin that as full time.
Isn't It Odd??
Submitted by Samaritan01 on Thu, 04/12/2012 - 11:27am.
If this constant "revising upward" occurred during a Republican administration it would not only be noticed it would be decried as a massive depression! The Democrats treat this lousy economy as if it were their crazy uncle who wears nothing but his boxers and a bathrobe and lives in their basement, no one want to talk about him and he doesn't exist.
Ok, so the AP blames Easter also
Submitted by bkeyser on Thu, 04/12/2012 - 4:35pm.
Are we to assume that public school employees who don't need to report for work during Spring Break are eligible for unemployment benefits?
Man, the questions are flooding in...
Because frankly, if the answer to any of the above is "yes", something needs to change. I worked outside for many, many years and neer once did I consider having someone pay a part of my normal salary every day it rained or snowed. And if I had a job that I knew resulted in a week or two off during the year without pay, I'd make sure I budgeted properly so that I didn't need to be subsidized to sit on my ass. And if I had a job that I knew resulted in 3 months off without pay, I'd also make sure I budgeted for it, or found temporary employment during that time if I could otherwise not make ends meet.
This is f'n stupid.
so remember...
Submitted by c5then on Thu, 04/12/2012 - 6:06pm.
350,000 going on unemployment every week and 300,000 new jobs being added every month is supposed to be good news.
To match the units for the math challenged liberals...
350,000 new jobs per month
1,200,000 being laid off every month
Until these statistics reverse there will be no recovery.
And they wont reverse until we get a new administration.
Madison and Jefferson and Franklin built a Republic - Roberts killed it!