Reuters is the only agency reporting today's good unemployment numbers It is out of the U.K. Why no American coverage?


(Reuters) - The number of Americans filing new claims for jobless benefits fell to a 3-1/2-year low last week and factory activity in parts of the Northeast gained speed in December, suggesting a further strengthening of the economic recovery.

Understand that Reuters is an international news agency,  liberal to the core,  based out of the United Kingdom.  Today’s weekly unemployment application news,  a positive report,  was run by Reuters and no other agency.  No doubt,  it will be an American headline,  but why not “jump” on this story?  Didn’t happen. 

You know what we think:  these weekly numbers only measure the number of new applications for benefits.  It really is not an “employment”  report.  Turns out that last week,  315,000 people “fell off the labor rolls” because they were no longer looking for work and were no longer receiving benefits.   So the week’s report show positive growth,  when,  in fact, the 315,000 had nothing to do with “job growth” at all. 


The official claims report for last week was 366,00 adjusted seasonally.  The unadjusted seasonal count was  433,287.  Maybe that is why no one is really getting too excited.  

No comments:

Post a Comment