K, yesterday the 4 week moving average was around 550k and the country lost, what?....440 jobs the week before?!
How in the fck is the weekly moving average still around 550k and the UE rate go down?
This job count chit is more than confusing and I see a RIFIN doubt top that will shoot to the upside like the rest of em did
California, with 12% of US population reports an unemployment rate of more than 11%:
"But as the recession continues, about 80,000 Californians and 540,000 people nationwide will run out of benefits by the end of September, with the clock running out on an additional million by the end of the year, according to the National Employment Law Project. The organization wants Congress to provide 10 more weeks of benefits for unemployed workers in all states and 20 weeks for those in states such as California with jobless rates above 11%." http://www.latimes.com/la-fi-unemployment8-2009aug08-trb,0,1623441.story
Nevada, Michigan, Florida, Oregon and a number of other states report unemployment rates in excess of 10%. With today's report of nationally improving unemplyment rate, then some states must be realizing incredibly strong new employment growth even though states continue reporting new weekly unemployment claims adding up to more than 2 million a month. Would somebody please tell us where these prosperous states are dramatically increasing their employment rolls?
And some people actually believe these monthly unemplyment reports??????
...and he ask questions to the reader that isn't really answered.
"..Isn’t U6, the broadest measure of unemployment, supposed to include people who are discouraged and stop looking? Yes — but at least according to the survey, that’s not the reason more people have dropped out of the work force..."
That doesn't make sense, the U6 data is falling too and the wages earned have increased.
Two didfferent reports.
Every Thurday there is a report about the UI bnefit claims. The number you cite (550K) is refering to initial (first-time) benefit claims. This report is a gross count of claims, and includes both new claims, and on-going. It does not include anyone not claiming benefits, nor does it measure job starts, thus it is gross.
today's report, the Employment situation summary is a monthly report (first Friday of every month) and is based on 2 surveys, CPS, and CES.
CPS measures people, and is the source of the UE data
CES measure payrolls, and is the source of job creation figures, but not UE data.
Neither relies on benefits, and unlike the weekly gross benefits claims figure, reports monthly NET changes.