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Thursday, October 11, 2012

Encouraging Weekly Jobless Claims Report Flawed? . . . I'll Give You Three Guesses . . .

Misanthropes are by definition just a teensy bit cynical (not to mention prone to sarcasm and exaggeration), hence I viewed today's jobless claim numbers with more than a little suspicion.  Come to find out, my scepticism was justified:
CNBC and Dow Jones have both confirmed that this latest weekly jobless claims report was missing data from one large state. Bloomberg noted that the Labor Department spokesperson said that one state accounted for most of the plunge in claims.
Hmmmm, missing data . . . I don't know *how* or *why* this keeps happening!?

How many days until the election?


Business Insider has obtained more specific information missing data Though this is informative, it is still somewhat incomplete and speculative.  Why isn't there a complete accounting of what data is and isn't included in these weekly bulletins? It seems to me that lacking this information a "good guess" might actually be better than a Labor Department report.

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