Thursday, August 19, 2010

Unexpected Unemployment

CNBC reports Weekly Jobless Claims Post Surprise Jump, Hit 500,000:
New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended August 14, the highest since mid-November, the Labor Department said on Thursday.

Analysts polled by Reuters had forecast claims slipping to 476,000 from the previously reported 484,000 the prior week, which was revised up to 488,000 in Thursday's report.
There's that word again: unexpectedly. The economic train wreck that began in 2008 continues to surprise.


JON DARMES said...

I WOULD LIKE TO HAVE THE NAME AND EMAIL ADRESSES OF THE MORONS WHO DIDN'T EXPECT IT. I think I should apply for a job to whatever Idiot hired these Morons because then I could fleece all the Idiots who follow their advice.

dsm said...


Exactly! After being wrong repeatedly in the same direction you'd think that reporters would at least calculate a fudge factor and report a best guess correction.