Thursday, April 29, 2010

The Unemployment Claims "Fall" Spin: Weekly Average is Up, Extended Benefits Up As Well

The media is all over the palce reporting a drop in unemployment claims. However, the devil is on the details. If you read the actual Department of Labor report, you will see that the 4-week average actually went up.

"The 4-week moving average was 462,500, an increase of 1,500 from the previous week's revised average of 461,000."

People on "extended Benefits" also rose by +55,632.

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