Job Numbers Are Still Dismal, Media is Still Shocked
This is hilarious. I can't possibly tell you how many times I've read this same headline, week after week, month after month, the MSM boneheads continue to use "unexpectedly" in reference to continually upwardly-revised unemployment numbers. This time, it's CNN Money saying "Initial jobless claims" have "unexpectedly risen" yet again. Sigh.
The number of Americans filing first-time claims for unemployment insurance climbed unexpectedly last week.
There were 473,000 initial jobless claims filed in the week ended Feb. 13, up 31,000 from the previous week's upwardly revised 442,000, the Labor Department said on Thursday.
A consensus estimate of economists surveyed by Briefing.com expected claims to slide to 438,000.
The 4-week moving average of initial claims, which levels out volatility, was 467,000, down 1,500 from the previous week's revised average of 469,000.
"We may have had some weather effects," said Wells Fargo senior economist Mark Vitner, adding that the blizzards that battered the East Coast at the end of the previous week may have led people to delay filing unemployment claims to last week.
That's a new one, blaming the weather. At least snowplow drivers had some work last week.