Unemployment insurance weekly claims, February 21, 2013, US Labor Dept., Increase of 20k, 4 week moving average up 8 thousand, Labor force dropouts not reflected
“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012
“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011
“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″
From the US Labor Dept. February 21, 2013.
“UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending February 16, the advance figure for seasonally adjusted initial claims was 362,000, an increase of 20,000 from the previous week’s revised figure of 342,000. The 4-week moving average was 360,750, an increase of 8,000 from the previous week’s revised average of 352,750.
The advance seasonally adjusted insured unemployment rate was 2.4 percent for the week ending February 9, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 9 was 3,148,000, an increase of 11,000 from the preceding week’s revised level of 3,137,000. The 4-week moving average was 3,186,250, a decrease of 6,750 from the preceding week’s revised average of 3,193,000.”
Remember, those who have dropped out of the labor force are not reflected in these figures.