It’s Unexpected!™

Aggie’s got the hamster team out training for the Iditarod sled race, so she’s not available to report this breaking news:

The number of people filing for unemployment benefits for the first time declined last week, a sign that the impact of Hurricane Sandy on jobs is starting to wane.

The Labor Department reported that 393,000 filed for initial jobless claims during the week, down from the 416,000 who sought help the previous weeks.

The number of those seeking help spiked earlier in the month due to the impact of Hurricane Sandy, as many hourly workers whose employers were forced to close in the wake of the storm filed for help.

Economists believe it will may still take a few more weeks before initial claims fall back to pre-storm levels. In the months before Sandy, the average number of unemployed filing for new claims was about 370,000. Excluding the impact from Sandy, it looks as if initial claims would have continued to hover around that level.

Economists “believe” that, do they? And “it looks as if” jobless claims would be lower if not for Sandy? I opened a news story, and a pep rally broke out!

What about the less volatile four-week average?

The one-month average, normally a more accurate number that smooths out weekly volatility, rose by 7,500 to 405,250. The monthly figure has also been distorted by the storm.

I get it already! If not for Sandy, we’d be in the money, happy days would be here again, shout Hallelujah, come on, get happy!

Those poor hamsters, having to root through this sh*t every week. Someone should report these “economists” the ASPCA.

2 Comments »

  1. Bloodthirsty Liberal said,

    November 29, 2012 @ 2:18 pm

    The hamsters are willing to serve, but their owner is fed up. An honest economist (or one who plays one on this website) cannot make honest predictions when the numbers have been twisted by politics. So my furry little friends are spending time munching on whatever hamster food is made of, while watching children’s programming on TV. They are happier.

    - Aggie

  2. Buck O'Fama said,

    November 29, 2012 @ 7:21 pm

    I was reading a commentary on Barrons today as to what the future is likely to bring: European debt collapse setting off a serious chain of defaults which will send the dollar soaring of gold plunging -or- the dollar collapsing as international investors abandon the greenback as the global financial system’s main reserve currency and transaction medium because of the insolvency of the U.S. government, which he predicts will become apparent by 2014 (the year we get “free” healthcare… yay!)

    So when I read about these econo-clowns still babbling about the soon-to-be-revised-new-claims number falling from very high to merely high, I think about Clarence and Alfred moving their deck chairs to the port side of the Titanic so they can watch the rest of the ship go under.

    If you’re a Barrons subscriber: http://online.barrons.com/article/SB50001424052748703711604578147074234577776.html?mod=BOL_hps_dc#articleTabs_article%3D0

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