For the first time in weeks, new claims came in under 400,000, as predicted by me, (scroll down for proof of my rather remarkable predictive abilities), 397,000 to be exact. Getting under "400,000" has only been done 10 time, since the days before the '08 elections -- 10 times out of 166 weeks, I believe.
Anyway, a little good news never hurts. Understand, that before the middle of next week, this total will be adjusted upward, probably to 400,000, on the nose. Last weeks "403,000" report was adjusted upwards, to 406,000, before the new reporting cycle began, (today. So, too, will be the story for this week, no doubt.
Let's try another prediction. The first Friday of each new month is the day the Federalis announces the unemployment percentage for the previous month. I believe the new unemployment percentage, for the nation's work force currently on unemployment benefits, will be 8.9%, below the previous 3 month reporting average of 9.1%. Good news in that regard , if my prediction holds true. The total unemployed, on and off benefits, will remain at or above 17%, however.
Let's not forget that the unemployed and underemployed number, is somewhere around 25% or 32 million Americans. Terrible.
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