Jobless Claims Rise Once Again
By Krystle Weeks | Thursday, March 10th, 2011 | PolicyIf you are a Project Runway fan like I am, then you’ll understand this reference: “One minute you’re in…the next minute, you’re out.” Well, this same reference can apply to the recent unemployment numbers. One week, the rates are down, and the next, the jobless claims soar despite the good news from the week before.
Last week, I urged caution with the decreasing unemployment numbers saying that these numbers did not account for those who have thrown in the towel with their job searches and that the rising fuel prices were going to soon become a contributing factor. This week, there is news from Bloomberg that jobless claims are up once again.
Applications for first-time unemployment benefits increased by 26,000 to 397,000 in the week ended March 5, Labor Department figures showed today. Economists forecast claims would climb to 376,000, according to the median estimate in a Bloomberg News survey.
The same survey also mentions that the figures do not account for those receiving emergency or extended unemployment benefits, which could continue to boost these numbers higher.
Like I said in a previous post, we must remain skeptical about any news of unemployment rates dropping. The numbers are not truly accurate, especially if you count for economically depressed areas of our country still experiencing rising unemployment.
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About the author
Growing up in Maryland typically does not yield a Republican. Fortunately, Krystle Weeks was one of the lucky few booted to the Commonwealth for her staunch conservative views. From an early age, she has been debating politics, and since 2006, she has been involved here in the Commonwealth helping Republican candidates to victory. Aside from politics, Krystle is a runner and a dynamite cook. You can email her here. Krystle also blogs at Crystal Clear Conservative and Charm Offensive Cooking.
Comments
4 Responses to "Jobless Claims Rise Once Again"
Actually, I believe without statistical manipulations of jobs by the Dept of Labor the unemployment rate would have stayed around 10%. Gallup’s unemployment index is at 10.3%. Because of this, for the first time ever, I’m beginning to think the govt may intentionally try to manipulate the economic numbers. If they lose credibility all bets are off. I hope I’m wrong.
Well gee whiz Val. With the survival of the country on the line, don’t ya think they might just manipulate things a little bit? Ok, how about alot? Like the forever upward stock market that only goes down when the plunge protection team forgets to send a large daily check to the HFT traders. They better start writing bigger checks cause our foreign entanglements are fixing to get very expensive.
For you folks that like to read, here is a new CBO report. This is a must read for old geezers and the military.
http://www.cbo.gov/ftpdocs/120xx/doc12085/03-10-ReducingTheDeficit.pdf
I’m still a believer in the total jobs created as a best stat for measurement of employment.
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