Jobless Claims Skyrocket 46K To 388K


While the September employment numbers were being manipulated, along with the previous two months' numbers, something else was on the horizon. The weekly jobs claims skyrocketed from 46,000 last week to a "seasonally adjusted" 388,000. This is the highest number of applications submitted for unemployment benefits in four months.

CNBC reports,

The Labor Department says the four-week average of applications, a less volatile measure, fell slightly to 365,500, a level consistent with modest hiring.

Last week, California reported a large drop in applications, pushing down the overall figure to the lowest since February 2008.

This week, it reported a significant increase as it processed applications delayed from the previous week.

A department spokesman says the seasonally adjusted numbers "are being distorted ... by an issue of timing."

Additionally, retail sales continue to grow, as indicated in September's numbers and construction began on new homes and apartments last month at the fastest pace in more than four years.

So I suppose that little failure to count the unemployment numbers correctly from California mixed up the numbers just in time for an October surprise, but the administration wasn't counting on it coming back to bite them in the middle of October with a nearly 50K increase in jobless claims.

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Comments

comments

  • http://www.facebook.com/people/Lina-Rott/1104892664 Lina Rott

    Why WE THE PEOPLE need to call him out on this - just because he says it doesn't make it true, he says a lot of things that aren't true, infact is probably the most untruthful president in this nation's history.....we all know it is probably closer to 15-22% unemployment rates.....we have to nip this lying in the bud to get re-elected garbage.....Americans are not as stupid as he thinks we are......

  • SouthernLadyNC

    Serves them right for frickin' around with the numbers anyway. I kept waiting on some TV news source to report that the California numbers weren't reported correctly but never heard a word...not even from Fox.

  • The Floorguy

    Obama shot himself in the ass. If he had not increased benefits to 99 weeks, it would be down below 5% by now.

  • jvb1980808

    The only ones still in the dark regarding Obama's shinanighans are those people too determined to remain ignorant to help....I'm thinking it's the demographic still blowing up the internet looking for the definition of MALARKY.

  • David

    Look people. This will not change until all of the Democrats are taken out of being in charge of the senate as well as Presidency. This ship is sailing for the fiscal cliff faster that it has ever sailed in the last four years.

  • http://www.facebook.com/people/Jerry-Penny/100001396960458 Jerry Penny

    Delaying unemployment applications for political purposes. I hope those that fell behind on their mortgages, car payments and trying to feed their children remember this on election day.

    • tenbears

      That's nothing! I live in Rhode Island, where they just laid off sixty employees that work in the Unemployment Office proccessing unemployment claims! The wait was 1 hour-to-forever before this happened! But it doesn't matter, because no one has a job to be laid off from to collect anyhow!!!

  • phunyfarm

    It looks like the bottom is dropping out everywhere. Pitchforks are busy digging through all the manure & the smell just gets worse & worse.

    • elmcqueen3

      Pitchfork ready!

  • DaveNTejas

    I guess using Obammas math, that means the unemployment rate will be 7% this week.

    • Dean

      I just told my wife the same thing.

  • http://www.survivingurbancrisis.com/ Silas Longshot

    No matter how they dic around with the numbers, reality always seems to come around at inconvienient times, huh? This 'fantastic job' king zero was supposed to be doing with these new magical employment numbers was baloney from the start.

  • CaptTurbo

    Are you sure? I haven't heard this on the "news". ;)

  • DAVID PEACOCKu

    only a third grader could not figure this out;; it is all being manipulated by king hussein.........and his media nuts.

  • http://www.facebook.com/vettfixer Chet Radven

    What happened to that 7.8% last month. Seasonal change, cooked book? Naw,,not from Obama.