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The Initial Unemployment Claims report for last week is out and guess what? The Economists are surprised. And water is wet and the sky is blue. From Reuters:
The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, according to a report on Thursday that could reinforce fears the labor market recovery has stalled.Note how the reporter managed to skim right over how the report from last week got revised upwards from 422K to 426K.
Initial claims for state jobless benefits increased 1,000 to 427,000, the Labor Department said. However, economists polled by Reuters had forecast claims dropping to 415,000 from a previously reported count of 422,000.
Point of fact however, this report is not even close to being the best example of Beltway Village
