Thursday, October 11, 2012

“A Labor Department economist said one large state didn't report additional quarterly figures as expected, accounting for a substantial part of the decrease.”

Why Jobless Claims May Not Be as Good as Market Thinks - CNBC

The Labor Department on Thursday said the number of people filing jobless claims last week dropped by a seasonally adjusted 30,000—a pretty sharp decline, and one that left the total number of filings at a four-year low of 339,000....

In other words, the drop of 30,000 last week had more to do with the lack of expected re-filings at the start of the fourth quarter than with any particular improvement in labor market conditions.

It Looks Like The Huge Drop In Jobless Claims Was All Due To One Mystery State - Business Insider

We've Gotten To The Bottom Of The Mysterious Jobless Claims Report!

...had all of California's jobless claims been processed in time to make the jobless-claims release, this jobless number would still have been better than economists were expecting--but not as much better as it appeared.