Decline in Unemployment Claims Suggests Stocks Can Rise Faster
From The Wall Street Examiner Email Bulletins Archive January 24, 2013 - 4:21pm
This post is excerpted from the permanent Employment Charts page, which includes numerous additional charts and analysis on key employment metrics. The Labor Department reported that the seasonally adjusted (SA) representation of first time claims for unemployment fell by 5,000 to 330,000 from an unrevised 335,000 in the advance report for the week ended January 19, 2013. The number was far better than the consensus median estimate of 355,000 reported by the financial news media. Seasonal adjustment remains a haphazard and arbitrary process that always yields a fictitious number. This week, for a second straight week, observers showed concern about the fact that the seasonally adjusted data may be misleading at the turn of the year. They are correct. The only problem is that they think the numbers will return to “normal” at the end of January. The problem, however, ...
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