444,000 new claims. 4,000 worse than expected according the averaged polls, but advertised as a 4,000 decrease because the number last week was revised up by 4,000…
It’s all a big illusion.
Whatever happened to calculating an unemployment figure based on how many people of working age (and who want to work) are out of work?
I’ll tell you why.
Because that figure would put unemployment over 20%.
Another week, another half-million jobs lost.
The good news is, after everyone is laid off, new claims will drop to zero.
On the week ending May 8, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 4,000 from the previous week’s revised figure of 448,000. The 4-week moving average was 450,500, a decrease of 9,000 from the previous week’s revised average of 459,500.
The advance seasonally adjusted insured unemployment rate was 3.6 percent for the week ending May 1, unchanged from the prior week’s unrevised rate of 3.6 percent.
The advance number for seasonally adjusted insured unemployment during the week ending May 1 was 4,627,000, an increase of 12,000 from the preceding week’s revised level of 4,615,000. The 4-week moving average was 4,639,500, a decrease of 14,750 from the preceding week’s revised average of 4,654,250.
The fiscal year-to-date average of seasonally adjusted weekly insured unemployment, which corresponds to the appropriated AWIU trigger, was 5.174 million.