Initial Claims Decline 14.3% Vs. Same Week 2012, Continuing Improving Trend

From The Wall Street Examiner Email Bulletins Archive
January 10, 2013 - 1:44pm

This report is an excerpt from the permanent Employment Charts page, updated when new data becomes available. Also updated today JOLTS and Average Weekly and Hourly Earnings and Hours Worked. The Labor Department reported that the seasonally adjusted (SA) representation of first time claims for unemployment rose by 4,000 to 371,000 from a revised 367,000 (was 372,000) in the advance report for the week ended January 5, 2013. The number was worse than  the consensus median estimate of 364,000 reported by in a survey of economists. Bloomberg reported a median estimate of 365,000. Dow Jones, which uses Econoday, had the consensus at 362,000. The reported number was closer than usual to the estimates this week, but the seasonal adjustment process remains a haphazard and arbitrary process that always yields a fictitious number. The headline seasonally adjusted data is the only...

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