Friday, December 4, 2009

Unemployment Data: The Real Numbers Please

http://seekingalpha.com/article/176561-did-weekly-jobless-claims-really-fall-below-500k
The Internet is buzzing with analyses of the real unemployment numbers. I like this article at Seeking Alpha by "Trader Mark":

"You see, as the weekly claims figure has dropped from 462,000 Americans last week to 457,000 this week (green shoots, a 5000 person drop!) the (hidden in dark corners where only mushrooms grow) Emergency Unemployment Compensation exploded up by 265,000 Americans. Yes you heard me, a quarter million people... in a week. Shhhh... not so loud."
....
"So if you are not following what is happening... people are falling off the traditional claims as they have exhausted "traditional" lengths of stay, and our EUC (all our extensions combined) are exploding higher..."

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