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Data Massaging Continues: Initial Claims Tumble To 339K Lowest Since 2008, Far Below Lowest Expectation

Tyler Durden's picture




 

This is just getting stupid. After expectations of a rebound in initial claims from 367K last week (naturally revised higher to 369K), to 370K (with the lowest of all sellside expectations at 355K), the past week mysteriously, yet so very unsurprisingly in the aftermath of the fudged BLS unemployment number, saw claims tumble to a number that is so ridiculous not even CNBC's Steve Liesman bothered defending it, or 339K. Ironically, not even the Labor Department is defending it: it said that "one large state didn't report some quarterly figures." Great, but what was reported was a headline grabbing number that is just stunning for reelection purposes. This was the lowest number since 2008. The only point to have this print? For 2-3 bulletin talking points at the Vice Presidential debate tonight. Everything else is now noise.

It is also sad that the US "economy" has devolved to such trivial data fudging on a week by week basis, which makes even the Chinese Department of Truth appear amateurish by comparison. Needless to say, Not Seasonally Adjusted initial claims jumped by 26K to 327K in the past week but who's counting. Finally, what is the reason for ongoing QEternity if the employment situation is now back to normal. Finally, in completely ignored news, because who needs global trade when you have toner cartridge, and generally ink, the US trade deficit in August rose by 4.1% to $44.2 billion, on expectations of a deterioration to $44.0 billion. Then again nobody talks about the US trade deficit during presidential debates so all good here.

Jobless Claims beat by the most since May 2009 and is the lowest since Jan 2008 - the new normal...

 

with the biggest 3-week drop since Jan 2006..

 

and the idiocy of relentless revisiosn continues...

 

as the six-sigma beat plays out...

 

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Thu, 10/11/2012 - 10:18 | 2877630 yogibear
yogibear's picture

Another reason for companies to raise prices and squeeze the middle class more. In the mean time Bernanke keeps the QE pedal mashed to the floor to escalate inflation further.

Watch food and commodities rocket upward.

Thu, 10/11/2012 - 10:25 | 2877637 Element
Element's picture

So this means all those people got a new job huh?  Green shooooots!!!!

Thu, 10/11/2012 - 10:29 | 2877643 surf0766
surf0766's picture

In Amerika, all number are good.

Thu, 10/11/2012 - 11:25 | 2877716 RSBriggs
RSBriggs's picture

In Amerika you don't have bad numbers, bad number have you!

Thu, 10/11/2012 - 10:44 | 2877662 vegas
vegas's picture

 Like who didn't see this kind of thing coming from the BLS [Bureau of Lying Shitbags]?

 

http://vegasxau.blogspot.com

Thu, 10/11/2012 - 10:45 | 2877664 Bad Attitude
Bad Attitude's picture

Can't the regime at least produce credible lies? I realize the regime is in blind panic mode, but their lies become more preposterous with each passing day.

Thu, 10/11/2012 - 10:51 | 2877668 hedgehog9999
hedgehog9999's picture

I learned a very long time ago that the most critical step in solving a problem is acknowledge that there is one, then understanding it and finally solving it or having a plan to solve it. Once there you follow the plan and after a while "problem solved". This requires having a plan or roadmap. Which brings me to " if you don't know whre you are going you are NEVER going to get there" 

These delusional lying assholes are not even past the acknowledging phase. They are so far from a solution that 's not even funny.

And the vastly ignorant American public is still focused on the stupid debates which don't even come close to addressing the issues as they have been swept under the rug by both parties

 

 

 

 

 

 

Thu, 10/11/2012 - 11:02 | 2877684 Bastiat009
Bastiat009's picture

Now, what if we "forgot" to report California's election results in November? That is one large State and somebody may miss those electors.

Thu, 10/11/2012 - 11:04 | 2877685 grunk
grunk's picture

Data massaging, the world's oldest profession.

Thu, 10/11/2012 - 11:16 | 2877701 foodstampbarry
foodstampbarry's picture

Figures to be revised..... Nov 7th..

Thu, 10/11/2012 - 11:17 | 2877703 flacorps
flacorps's picture

Did somebody say "Illinois"?

Thu, 10/11/2012 - 11:18 | 2877706 lolmao500
lolmao500's picture

The people who are unemployed don't decide the unemployment rate, the people who count the unemployed do.

- Stalin

Thu, 10/11/2012 - 11:19 | 2877708 mktsrmanipulated
mktsrmanipulated's picture

Just curious,if the govt was manipulating the data, and it was discovered, would market manipulation be charged???? and to whom????

Thu, 10/11/2012 - 11:29 | 2877723 RSBriggs
RSBriggs's picture

HAHAHAHAHAHAHA. And who would be pressing said charges, Eric Holder?   HAHAHAHAHAHAHAHAHA

Thu, 10/11/2012 - 11:40 | 2877745 Clark Bent
Clark Bent's picture

If you were to axe him, he would tell you he cannot speak about it or reveal any evidence because it is all under investigation. "Under investigation," the term coined by Janet "Lurch" Reno to describe the black box where the guv puts all unhelpful reality. "Shush now, trust us, or maybe you're just complaining because you fear an IRS audit would reveal something you'd rather not have revealed, hmmm?" 

Thu, 10/11/2012 - 13:33 | 2878045 mktsrmanipulated
mktsrmanipulated's picture

this was a rethorical question.....sort of liek if a tree falls in the woods

Thu, 10/11/2012 - 11:31 | 2877728 JohnKing
JohnKing's picture

All incumbents, Rebulican or Democratic may get a halo effect from the propaganda so I wouldn't deem this type of prevarication as partisan. This is just the way that the two-party crime syndicate rolls.

Thu, 10/11/2012 - 11:33 | 2877731 JohnKing
JohnKing's picture

All incumbents, Republican or Democratic may get a halo effect from the propaganda so I wouldn't deem this type of prevarication as partisan. This is just the way that the two-party crime syndicate rolls.

Thu, 10/11/2012 - 11:34 | 2877734 Clark Bent
Clark Bent's picture

A question arises in my mind, how many Americans are still dumb enough to beleive these magical and oh so headline ready improvements? How many are yet unaware of the constant revising after the headline has had its intended effect, quietly and unreported? Not many one would think, but then John Stewart does not realize that we have an outstanding debt of $16 trillion dollars, and thinks that Clinton actually had a $100 billion dollar surplus in the late nineties. Wonder what he did with all that cash? Since most Obama sheeple get their "newsy-news" from Stewart and NPR, what are the chances they have the slightest inkling what has been going on lo these last four years? 

Thu, 10/11/2012 - 11:42 | 2877750 regionswork
regionswork's picture

Just a flash crash. The Wall Street algos are invasive to any data set. Watch out for your heart rate, friend count, Klout ratings, ...

Older employees are being laid off. My sister, age 60 and the other older of the special ed teacher's aides were riffed prior to the start of the school year. So, early retirement is being forced. Plenty of part-time jobs to minimize benefits. This is only a 20 year old practice. Employers like competition - in the workforce at the bottom.

Any wage is a fair wage. Oops, a moral flash crash.

Thu, 10/11/2012 - 11:44 | 2877752 Clark Bent
Clark Bent's picture

Hey new arrivals, take a look a this...http://www.shadowstats.com

Thu, 10/11/2012 - 11:51 | 2877763 Clowns on Acid
Clowns on Acid's picture

The equity market pallyers will fade this figure...slowloy....always checking for when the Fed or their puppets begins to bid the ES up again.

Might have to go to 1400 on the ES before we see the "invisible hand" of the Fed begin to send in bids.

Thu, 10/11/2012 - 12:14 | 2877776 MRCDH
MRCDH's picture

Following are three quotes that capture what appears to be happening relative to information that is being released:

1) "All this was inspired by the principle--which is quite true within itself--that in the big lie there is always a certain force of credibility; because the broad masses of a nation are always more easily corrupted in the deeper strata of their emotional nature than consciously or voluntarily; and thus in the primitive simplicity of their minds they more readily fall victims to the big lie than the small lie, since they themselves often tell small lies in little matters but would be ashamed to resort to large-scale falsehoods. It would never come into their heads to fabricate colossal untruths, and they would not believe that others could have the impudence to distort the truth so infamously. Even though the facts which prove this to be so may be brought clearly to their minds, they will still doubt and waver and will continue to think that there may be some other explanation. For the grossly impudent lie always leaves traces behind it, even after it has been nailed down, a fact which is known to all expert liars in this world and to all who conspire together in the art of lying."—Adolf Hitler , Mein Kampf, vol. I, ch. X

2) "In our country the lie has become not just a moral category, but a pillar of the state."---Alexander Solzhenitsyn

3) A lie told often enough becomes the truth. ---Lenin

Shame is not word in their vocabulary who play so loosely with the truth.

Thu, 10/11/2012 - 12:51 | 2877879 Ian56
Ian56's picture

Jobless nos explained.

Ca under reported by 15k to 25k

http://www.businessinsider.com/what-happened-with-jobless-claims-2012-10 

Thu, 10/11/2012 - 14:30 | 2878340 Under construct...
Under construction...'s picture

BLS stands for:

  • Bureau of Ludicrous Statistics
  • Bureau of Laughable Statistics
  • Bungled, Lying Statistics
  • Bureau of Lapdog Slaves
  • Bunch of Lying Sh*ts

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