Lies Damned Lies and Statistics. May 10 2012 Edition

Ok.

This week's number is 367K new unemployment claims.

Last week's number was 365K new claims when they reported it last week. So it was an increase of 2,ooo claims over the previous week.

But this week they raised last week's number to 368K so that they can report this week's number as a decrease of 1,000.

Stuart Varney on Fox just said they have done this 17 times this year alone.

Bearing in mind there have only been 19 reports this year so far.

And another 40,000 have dropped off the rolls, expired their benefits last week, are no longer counted as unemployed.

40,000 more have just had their tenuous hold on paying the bills cut off, many with probably no real prospects looming and wondering just what the hell they're going to do now.

While insufferable twits like Fox's Eric Bolling and Sean Hannity and the boobs on The Five saying they should just go out and get a job.

Then turn around feign outrage and bemoan how bad the unemployment is because of Obama.


Can't have it both ways, folks. Either the jobs are there and they should just go out and get one or they aren't and these people need help until they are.

Because I surely doubt 40,000 Americans just intentionally put their families at risk last week because they didn't want to work.

But please don't let that interfere with your meme.

Or nitwits and pissants like Maddow and Matthews encourage increasing the dole until these people can get back to work then turn around and talk about how great the economy is under Obama let's give him four more.

Listen, ninnies, more than a third of a million people lost their jobs last week. A third of a million families thrown into chaos and uncertainty.

And you want four more years of that?


And Mr Mitt says I'll get it fixed after November. And Mr. Barack says I'll get it fixed after November.

While Mr Boehner and Mr Reid have no idea how to get it fixed and have stated they can't agree on anything and will not even try until after November.

So tell me then what these 40,000 families last week, and all those that came before them, and all those that will come after them, are supposed to do for the next 26 weeks? As the government no longer acknowledges that they even exist and the media encourages you to do the same?

As the Bureau of Lies Damned Lies and Statistics continues to revise the previous figures so the new ones look better.


Zero Hedge:

Same Trick Different Week: "Initial Claims Decline Following Revision"; Deficit Surge Pushes Q1 GDP To 1.5%

Submitted by Tyler Durden on 05/10/2012 - 08:4

 Stop us when this sounds familiar. Last week's 365K number has been revised to 368K, which is where the expectations for this week's print were. Instead, we got 367K claims this week, a 1K beat to expectations, which will be a 2K miss next week of course, but at least the pre-election propaganda media has their headline: "Initial Claims improve by 1,000." And scene. Naturally, the same thing happened for continuing claims, which beat expectations of 3275K, printing at 3229K, with the last week's print revised to 3290K from 3276K. The more disturbing form an end demand standpoint data, is that yet another 40K dropped off extended claims and EUCs. Finally in what is the best new for the market, and worst for the Economy, is that the March trade deficit soared to $51.8 billion, on expectations of -$50 billion, which was the biggest trade balance drop in 10 months. What this means is that Q1 GDP which already is tracking at 1.9%, just got lobbed to 1.5%. Yes: the Q1 GDP first revision will likely show the 2.2% number is now in the low to mid 1% range.