Job Claims "Unexepectedly" Rise
That's the headline from the Arizona Republic today. Do editors realize this is becoming a national running joke?
The number of people filing new claims for unemployment benefits unexpectedly rose last week by the largest amount in three months. The surge is evidence of how volatile the job market remains, even as the economy grows.
bbartlog:
It's been a running joke at calculatedrisk for quite some time.
May 20, 2010, 8:20 amAs for these figures, just wait until the state governments are finally forced to lay off people. Double dip recession, coming soon. The only question in my mind is whether they will try another round of huge bailouts to kick the can down the road, or whether they'll let things unfold normally this time around. Either way it's bad, but more bailouts would lead to an Argentine-style financial crisis whereas leaving things be just leaves us looking like Britain in the 1970s...
spiro:
"...even as the economy grows."
Really? And what standard do they use to back-up that assertion?
May 20, 2010, 8:45 amThomas:
Yes NPR, NY Times and every other paper always seem to be surprised unemployment rise when everyone I talk to isn't. They are still trying to tow the Administrations line though the reality isn't matching, it's almost getting as bad as the Pravada reporting in the former Soviet Union.
What's the old Cold War joke about the Soviet papers? There is no News in the Truth and Truth in the News. It seems to be applicable here.
May 20, 2010, 9:50 amcaseyboy:
Any time something negative happens in the economy it is "unexpected" or "a surprise". -bbartlog is right about the public sector layoffs that are inevitable as state and local governments reduce payroll or go broke. The same people who are "surprised" were the ones celebrating the good economic news when government spending pushed GDP up. Don't forget those Census workers will be coming off the payroll in the next few weeks and hitting the unemployment lines again. And if we keep extending unemployment benefits don't expect to see those numbers go down. Double dip recession? Yeah, I think that is about right. This time we are going to have to let the sh__ hit the fan and sort itself out.
May 20, 2010, 2:06 pmDr. T:
spiro:
“…even as the economy grows.â€
Really? And what standard do they use to back-up that assertion?
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May 20, 2010, 3:39 pmProbably the increased consumer spending last month when people who had hunkered down during the worst of the recession finally replaced items that were wearing out such as cars, lawn mowers, outdoor grills, etc. I believe that the uptick will die before June, and the government will announce an "unexpected" downturn in consumer spending.
orthodoc:
Try googling "unexpected AND unemployment AND 2010." It produces over a million hits.
It's not unexpected if it's the result of the same stupid behavior that caused unemployment last time....
May 21, 2010, 12:17 pmADiff:
Tomorrow's headlines in Phoenix:
"Temperatures Unexpectedly Rise Above 100F"
What a surprise!
May 21, 2010, 4:48 pmSam L.:
They are the idiots who think WE are idiots. And they wonder why we stop buying papers and watching "the news" on TV.
May 23, 2010, 10:52 am