Friday, April 16, 2010

Initial jobless claims jump by 24,000. Why does the media always say 'unexpectedly' when 'WE' already know it's going to increase?

No one can claim that major storms are now contributing to spikes in unemployment, as the administration did in February. Just two weeks after claiming a major victory from jobless figures assisted mainly by government hiring, initial jobless claims spiked upward sharply again. Is this an opportunity for wire services to use their favorite adverb? (h/t Desmond Lee)

In the week ending April 10, the advance figure for seasonally adjusted initial claims was 484,000, an increase of 24,000 from the previous week’s unrevised figure of 460,000. The 4-week moving average was 457,750, an increase of 7,500 from the previous week’s unrevised average of 450,250. READ MORE...

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