Cookin’ the books update: They (shamelessly) did it again …

OK, here’s this week’s unemployment claims headline:

“Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 387,000.

The prior week’s figure was revised up to 389,000 from the previously reported 386,000.”

Said differentlt: Unemployment claims (387,000) increased by 1,000 over last week’s reported number (386,000) … but last week’s reported number (386,000) was revised up by 3,000  to 389,000 … so, this week’s number is not an increase of 1,000, it’s a decrease of 2,000.

C’mon man.

My bet: this week’s number 387,000 will be revised upward next week.

That’s a safe bet, since the BLS has under-reported initial unemployment claims for 66 out of the last 67 weeks.

Here’s the recap for the past 7 weeks:

image

Bottom line: a consistent bias – maybe statistical, maybe political – that provides Obama with jobs’ headlines more favorable than reality

image

Either the BLS has the worst statisticians on the face of the earth, or they’ve become political hacks.

You decide …

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