September 19, 2013

Initial Unemployment Claims (091913): Garbage, Again

Filed under: Economy,Taxes & Government — Tom @ 8:29 am

Predictions: Bloomberg will only predict that seasonally adjusted claims will “increase” from last week’s artificial number caused by two states not reporting. Business Insider’s email had nothing.

Seasonal adjustement factors:
- Week ended Sept. 14, 2013 — 87.9
- Week ended Sept. 15, 2012 — 87.2

Raw Claims:
- Week ended Sept. 7, 2013 — 228,399 (before revision)
- Week ended Sept. 15, 2012 — 330,454

To generate a seasonally adjusted result of 325K or lower, raw claims will have to be 286K or lower. Given last week’s garbage report, who knows what’s in store?

The report will be here at 8:30.

8:40 a.m.: Still nothing …

8:42 a.m.: Still nothing released, but AP has this report:

US UNEMPLOYMENT BENEFIT APPLICATIONS RISE TO 309K

The number of people seeking U.S. unemployment benefits rose 15,000 last week to a seasonally adjusted 309,000. But the data was distorted for the second straight week by reporting delays.

The Labor Department says the level is only slightly above the previous week’s 294,000, the lowest in six years.

Applications plummeted two weeks ago when California and Nevada were unable to report all their applications of computer upgrades in both states. A government spokesman says those states reported all the applications that came in last week.

… backlogged applications from two weeks ago may elevate the figures in the coming weeks …

In other words, garbage — again.

I’m not waiting around for the official release. On to other things …

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3 Comments

  1. I wonder if it’s the same 2 states not reporting this week or 2 other states.

    Comment by steveegg — September 19, 2013 @ 8:32 am

  2. CNBC named the states – California and Nevada.

    Yep, that’s good for about 40K.

    Comment by steveegg — September 19, 2013 @ 8:35 am

  3. [...] Unemployment Claims (091913): Garbage, Again September 19, 2013 bizzyblog.com BizzyBlog No comments Initial Unemployment Claims (091913): Garbage, Again, [...]

    Pingback by Initial Unemployment Claims (091913): Garbage, Again | PERSUASION IN INK — September 19, 2013 @ 2:01 pm

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