This will put an end to the “best in four years” rinse-repeat cycle we’ve seen from the press during the past several weeks.
SEASONALLY ADJUSTED DATA
In the week ending April 7, the advance figure for seasonally adjusted initial claims was 380,000, an increase of 13,000 from the previous week’s revised figure of 367,000. The 4-week moving average was 368,500, an increase of 4,250 from the previous week’s revised average of 364,250.
… UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 381,875 in the week ending April 7, an increase of 62,530 from the previous week. There were 448,029 initial claims in the comparable week in 2011.
Business Insider’s prediction was 359K.
Press spin on this should be entertaining.
The most important concern, of course is the real pain Obamanomics continues to cause. Party of compassion my a**.
UPDATE: Trying to compare the seasonal adjustment factors used this year and last year to see if the adjustment skewed the numbers isn’t possible, because this past week included Good Friday, while last year had five regular business days. So of course the factors are very different.
UPDATE 2: Almost lost in the shuffle, and almost certain to be ignored in the press, is the fact that last week’s initial “best in four years” number was revised upward by 10,000.
UPDATE 3: Graphing the past 18 weeks —
UPDATE 4: Catch this comment in response to previous comments made by Steve, and thanks to him for providing the relevant comparative seasonal adjustment factors.