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Friday, June 13, 2003

Jobless Claims Drop From A Revised Higher Number. Sort of like getting 15% off after a 25% price hike. From Seeing the Forest:

For those of you with memories, something might sound fishy about today's weekly jobless claims that "dropped 17,000 to a still-higher-than-expected 430,000, remaining above 400,000 for more than four months now."

Here's why: "The previous week's data were revised to show a 22,000-claims increase to 447,000."

Using this patented method, jobless claims can fall every week, boosting the stock market and Bush re-elects, and be over 500,000 soon.