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Thread: It Looks Like The Huge Drop In Jobless Claims Was All Due To One Mystery State

  1. #1
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    Default It Looks Like The Huge Drop In Jobless Claims Was All Due To One Mystery State

    Now they're "cooking the books"?
    ************************

    http://www.businessinsider.com/joble...-state-2012-10

    http://tinyurl.com/8cp3lmq

    Earlier this morning, the Department of Labor reported that initial jobless claims plunged to 339K from 369K a week ago.

    Economists were looking for a reading of 370k.

    Immediately, Twitter exploded with tweets mocking Jack Welch, who claimed last week's jobs report was fixed to artificially drop the September unemployment rate to 7.8 percent from 8.1 percent in August.

    Coincidentally, cryptic messages came through from Bloomberg and the WSJ that raised doubts about today's report. From Bloomberg:

    One state accounted for most of the plunge in claims, a Labor Department spokesman said as the data were issued to the press.

    And from the WSJ:

    "However, the report may not be as positive as the sharp drop indicates. A Labor Department economist said one large state didn't report additional quarterly figures as expected, accounting for a substantial part of the decrease."

    Initially, rumors started circulating that an entire state's worth of jobless claims was excluded.

    The DoL was not immediately available to comment.

    Read more: http://www.businessinsider.com/joble...#ixzz290ShiFPM
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    [QUOTE=Eric Johnson;1020858]Now they're "cooking the books"?************************

    [

    I believe they have been cooking them all along...
    Bill Davis

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    Senior Member gmhr1's Avatar
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    wonder if they will correct it before the election
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    Maybe they will bring out Debbie Blabbermouth Schultz to explain it.
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    Senior Member gmhr1's Avatar
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    The state that didnt turn in numbers in time was California
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    Quote Originally Posted by gmhr1 View Post
    The state that didnt turn in numbers in time was California
    They didn't "forget" it!
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    Quote Originally Posted by gmhr1 View Post
    The state that didnt turn in numbers in time was California
    Those of us who live in California know the jobless rate doesn't look good. Recently in the Sacramento area Comcast laid off 200 people.

    Two weeks ago Campbell Soup announced they were closing their processing plant in Sacramento. CLOSING, not moving. Between now and next year, 700 people who work at that plant will be out of a job.

    There aren't any new soup companies coming to Sacramento. There aren't any new soup companies coming to California. These folks are not going to find a replacement job in the Sacramento area; they aren't going to find a similar job in California. They are either going to have to move to another state to find a vegetable processing plant who is hiring ... or get trained to do something else.

    As you all know, the Dems are in power here. I am not surprised that California could not turn in their numbers in time. I wonder... will they turn them in at all?

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    Just poked around on the net. California's jobless number for August was 10.6 %.

    August was reported on Sept 21. Maybe Sept will come out on Oct. 21.

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    Quote Originally Posted by helencalif View Post
    Just poked around on the net. California's jobless number for August was 10.6 %.

    August was reported on Sept 21. Maybe Sept will come out on Oct. 21.
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