Emerging in the United States is an unhealthy sense of entitlement, actor, model and entrepreneur Ashton Kutcher told Ellen DeGeneres Wednesday.
At this point, we've only seen about half the initial impact of that change, as the new jobless claims numbers for the week ending 26 January 2013 are just reflecting the period into the second week of January.
We've long noted that there is a 2 to 3 week lag between events like this occurring to when it shows up in the new jobless claims data.
The data is so volatile right now that we're not able to accurately determine what the real trend in new jobless claims might be.
Since our statistics based method needs at least 6 to 10 data points to establish whether a trend exists, a moving average might provide a useful picture in the limited period of time following when a break in an established trend occurs until our method can define the new trend.
The Bureau of Labor Statistics (BLS) reported last Friday that 114,000 new jobs were created last month, according to its Establishment Survey of business payrolls that has been emphasized by the Obama Administration. That is pitifully weak, especially for what is supposed to be the fourth year of a recovery (the National Bureau of Economic Research scored the recession as officially over in June, 2009).