Obamunism! Unemployment Claims Surge

From Reuters:

The number of Americans filing new claims for jobless benefits rose unexpectedly last week, further evidence of a weak labor market just hours before President Barack Obama unveils a plan on job creation in a major address to Congress…

…Applications for unemployment benefits rose to 414,000 in the week ending September 3 from an upwardly revised 412,000 the prior week, the Labor Department said on Thursday. Wall Street analysts had been looking for a dip to 405,000…

Why would analysts be look for a dip?  Over at FinViz, they report the expected number not a 405,000, but 400,000…and here it goes, again, with an “unexpectedly” higher number.  Are the analysts working on the “magic” theory in which an increasingly bankrupt nation will create jobs “just because”?  Are they just guessing?

That is what I figure – after all, how can you really analyze such a thing?  Not like you can call all the businesses in America on Monday and ask them how many they will lay off on Friday.  What this shows is that a great deal of the data we’re using to make decisions on is bogus…meaningless numbers put out by people who (a) think they have to put them out and (b) figure that any number is better than no number.

Better to just wait for the number – and until it drops below 250,000 a week, we’re not getting anywhere.

6 thoughts on “Obamunism! Unemployment Claims Surge

  1. Count d'Haricots September 8, 2011 / 4:15 pm

    The Libiots have released their “Talking Points” for President Oblivious’ campaign speech tonight;

    Anyone for a dinking game?

    The American Jobs Act is:
    • based on bi-partisan ideas;
    • it is fully paid for by closing corporate tax loopholes and asking the wealthiest Americans to pay their fair share; and
    • it will have an impact on job and economic growth NOW — just as soon as Congress acts.
    • Every day, people in this country are working hard to meet their responsibilities. The question now is whether Washington will meet theirs.
    • The time for obstruction and gridlock is over. Congress needs to put country ahead of politics.
    • The American people know that the economic crisis and the deep recession weren’t created overnight and won’t be solved overnight. The economic security of the American middle class has been under attack for decades.
    • That’s why President Obama believes we need to do more than just recover from this economic crisis.
    • The President is rebuilding the economy the American way — based on balance, fairness and the same set of rules for everyone from Wall Street to Main Street where hard work and responsibility pay and gaming the system is penalized.
    • It’s an American economy that’s built to last and creates the jobs of the future, by forcing Washington to live within its means so we can invest in small business entrepreneurs, education, and making things the world buys, not outsourcing, loopholes and reckless financial deals that put middle class security at risk.

    • Count d'Haricots September 8, 2011 / 4:17 pm

      A dinking game????

      Maybe I started a bit too early.

      • Green Mountain Boy September 8, 2011 / 4:54 pm

        What kind of drinking game? Looks like you have a leg up already. 😛

      • Count d'Haricots September 8, 2011 / 5:07 pm

        Take a shot each time Pres. Oblivious says
        1) Infrastructure
        2) Re-investment
        3) Fair share
        4) Put Americans back to work
        5) Invest in job creation

        Drink a pot of coffee if he says
        1) Shovel ready or
        2) Stimulus

      • tiredoflibbs September 8, 2011 / 6:04 pm

        Actually, just take a sip every time the obAMATEUR says “I”, “me” or “my”.

        You’ll be passed out after 5 minutes.

      • Count d'Haricots September 8, 2011 / 6:09 pm

        Passed out from lack of oxygen; all sipping leaves no time for breathing.

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