Thursday, April 8, 2010

US Jobless Claims Rise Last Week

I always include this as part of the economic data talked about here on Commodity Surge, as the inclusion of the term unexpected, again, has been applied to the increase, in this case, of jobless claims.

Every time this is said, it's a form of manipulation to imply it's a shock that things are bad, when in fact there really has never been a true recovery, and we're still in the midst of a recession. This is why the term unexpected is used, to make it look like it's not the norm, when if fact it actually is.

Anyway, the number of jobless claims rose by 18,000 to reach 460,000 last week ending on April 3, according to data released from the Labor Department.

Analysts were surprised by the data, but I'm not sure why. Are they believing their own hype and wishful thinking? Are they in complete denial? It seems so.

This isn't rocket science, and the idea we have turned the corner in the recession is one that is based on theory and not reality, as these jobless claims numbers show. Quit pretending it's unexpected, as you can only save that word so many times before you look incompetent or like you're outright lying.

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