Headlines on the major wires are -”Weekly jobless claims unexpectedly rise” what where they really expecting that Obama would pull a Rabbit out of his hat and the job market would have a Summer surge? As HotAir an other blogs point out, the head line should be more like, “For the eighth week in a row, unemployment claims rise”
In the week ending June 4, the advance figure for seasonally adjusted initial claims was 427,000, an increase of 1,000 from the previous week’s revised figure of 426,000. The 4-week moving average was 424,000, a decrease of 2,750 from the previous week’s revised average of 426,750.
The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending May 28, a decrease of 0.1 percentage point from the prior week’s unrevised rate of 3.0 percent.
- Weekly jobless claims “unexpectedly” rise again? (hotair.com)