Labor stats: another week and more gamesmanship. Wages are down; unemployment is up; reporting misinforms except at Midknight Review.

Unemployment is rising (again)

The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending January 26, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending January 26 was 3,224,000, an increase of 8,000 from the preceding week's revised level of 3,216,000. The 4-week moving average was 3,211,000, an increase of 13,750 from the preceding week's revised average of 3,197,250. (advisorprespective.com) 

First time claims are rising (again) 

In the week ending February 2, the advance figure for seasonally adjusted initial claims was 366,000, a decrease of 5,000 from the previous week's revised figure of 371,000. 

 

Last week,  seasonally adjusted benefit claims fell to 335,000 from 375,000 the week before.  This week’s report found first time claims rising back to
366,000 with unadjusted benefit claim coming in at over 500,000 for the week ending Jan 26.  I mention “unadjusted” numbers because these numbers record the actual totals of those who walk into a federal office and sign up for benefits.  In other words,  “seasonally adjusted” is an unreal number.  “Unadjusted”  is the raw total,  a real number.  

Example:  for the week ending Jan 12,  the seasonally adjusted first time claims came in at 332,000,  the lowest in years while the unadjusted application total was a disturbing 556,710.  Which gets reported by the MSM?  You guressed  -  the number the Marxist One Worlders can best brag about.  (workforcesecurity.doleta.gov)