757,481 That was the real number!

Discussion in 'Economy' started by Neubarth, Dec 11, 2008.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    757,481 That was the real number!


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    ETA Press Release: Unemployment Insurance Weekly Claims Report

    UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

    SEASONALLY ADJUSTED DATA

    In the week ending Dec. 6, the advance figure for seasonally adjusted initial claims was 573,000, an increase of 58,000 from the previous week's revised figure of 515,000. The 4-week moving average was 540,500, an increase of 14,250 from the previous week's revised average of 526,250.

    The advance seasonally adjusted insured unemployment rate was 3.3 percent for the week ending Nov. 29, an increase of 0.2 percentage point from the prior week's unrevised rate of 3.1 percent.

    UNADJUSTED DATA

    The advance number of actual initial claims under state programs, unadjusted, totaled 757,481 in the week ending Dec. 6, an increase of 221,735 from the previous week. There were 423,130 initial claims in the comparable week in 2007.

    The advance unadjusted insured unemployment rate was 3.4 percent during the week ending Nov. 29, an increase of 0.7 percentage point from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 4,490,760, an increase of 837,333 from the preceding week. A year earlier, the rate was 2.0 percent and the volume was 2,623,051.


    Folks the collapse of the US economy as I predicted would be fueled by the collapse of the Service Sector. We are beginning to see that now. Soon, the unrest in some of the Big Cities with large minority populations will start. That 757,481 was the real newly unemployed number reported by the states. The adjusted number is calculated by the DOL to look less frightening. They then go back weeks later and raise the numbers or spread them out over two or three weeks. The DOL has been fudging the numbers for years now to please the administration in power.

    We are going down very fast and nobody knows what to do about it. Double bolt the front door in the future. The world is going to get more dangerous as the economy continues to collapse. Be safe in all things
     

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