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New Jobless Claims: Totally Expected and What to Expect Next

Kibitzer Wrote: Feb 04, 2013 4:44 PM
How can there be about 350,000 new applications for unemployment benefits on a weekly basis (thats about 1,400,000 per month) and less than 150,000 new jobs per month and yet the reported unemployment rate is essentially unchanged? Some thing here just doesn't add up. Figures don't lie, but liars do figure.

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: