Initial Unemployment Claims Skyrocket November 15, 2012Posted by geoff in News.
The Initial Unemployment Claims report came out this morning, showing a sudden surge in claims from 363,000 last week to 439,000 this week. A significant amount of the increase is probably due to Hurricane Sandy – we’ll know for sure next week when the state-by-state info comes out (the state reports lag the national reports by a week).
Here’s what the claims data looks like since 2009. As you can see, we haven’t made any headway for almost a year. Welcome to prosperity, Obama-style.
One oddity in the report – make of it what you will. Last year the seasonal correction for this week was +31,000. This year the correction was -27,000. WTH?
Did they just erase 58,000 claims from the data?