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New Jobless Claims: Totally Expected and What to Expect Next

Ed52 Wrote: Feb 04, 2013 9:53 AM
The politicians have learned that whatever statement they make will be widely reported without question or verification. They are able to say the economy has turned around and jobs are being created without anyone demanding proof. Political logic posits the shift from unemployment benefits to welfare benefits means the unemployment situation is improving and, therefore, jobs creation must be occurring because the unemployment situation is improving. If the politicians could get a real job they wouldn't be politicians.

As we expected, the number of new jobless benefit claims jumped from the low level reported in the previous week. Let's show where things stand now, then get to some analysis - our chart below shows where we are with respect to the most recently established trend for new jobless claims: