Those unemployment numbers

(9 am. – promoted by ek hornbeck)

  The weekly unemployment claims were very positive today.

 (Bloomberg) — The number of Americans filing claims for unemployment benefits fell last week to the lowest level since September 2008 as the economic recovery encourages companies to fire fewer workers.

  Initial jobless claims declined to 466,000 in the week ended Nov. 21 from 501,000 a week earlier, Labor Department figures showed today in Washington. The number of people collecting unemployment insurance dropped in the prior week, while those getting extended payments also declined.

Great news all around, right? Wrong.

 The non-seasonally adjusted numbers tell a far different story.

Weekly Initial Claims (SA): -35,000

Weekly Initial Claims (NSA): +68,080

Continuing Ins. Unemployment (SA): -190,000

Continuing Ins. Unemployment (NSA): +187,642

Some of the decline in claims last week may have resulted from the way the government adjusts the data to smooth out seasonal fluctuations, economists said.

No, ALL of the decline, and more, resulted from the way the government adjusts the data to smooth out seasonal fluctuations.

 The non-seasonally adjusted numbers are the real numbers, where one unemployment claim equals one person on unemployment.

  As for people on the federal government’s extended benefits:

EUC 2008: +16,370


Skip to comment form

    • dkmich on November 25, 2009 at 20:05

    We have droves of people coming into our office to file for extensions.   Employment still sucks.  

    • Inky99 on November 25, 2009 at 20:34

    with no end in sight …

  1. I had been wondering if those numbers were seasonally adjusted. It would be a real b**** if holiday shopping is too weak to keep the seasonal employees around through shopping season.

Comments have been disabled.