Weekly first time claims report: up a whopping 8,000 from last week's report.

By this time next week,  the numbers for week ending March 3^rd will be around 365,000.  Before that adjustment is made,  the official number of those applying for first time unemployment benefits is 362,000 and that is the number you will see reported, today. Understand this is the seasonally adjusted total.  The actual number of folks applying for first time unemployment benefits is 365,754, per Labor Department numbers.  

What does this report mean? 

Answer:  either there was a sudden spurt of lay-offs for the week,  or the Administration has played with the numbers long enough that, now,  is the time to make an adjustment.  If this last is the truth of the matter,  expect to see a declining number next Thursday. Understand that the Administration will feel pressure to "play" with these numbers during this election season.  

Tomorrow, Friday the 9th,  the unemployment total for the month of February will be announced.  Currently,  it is "officially" at 8.3%.  Gallup's has unemployment set at 9.1%.  Again,  this number is an extremely important one,  for Obama,  especially in the face of rising food and fuel prices.  

The total number of people currently drawing benefits is "seasonally reported" at 3,416,000.  The actual number is 3,979,563  

End Notes:  Four week totals

March 3 (week ending)  First Report 362,000  - up 8,000 from week before and this will be increased another [est] 3,000 by next Thursday. 

Feb 25  -  This week was adjusted up to 354,000 from a First Report of 351,000 before weekly adjustment  - 3,000 higher than the initial report of Feb 11.  --  

Feb 18 - 355,000 before weekly adjustment.   Supposedly, the weekly adjustment was 353,000 a downward adjustment  --  not likely. 

Feb 11 --  355, 000 after weekly adjustment