Diary

Here we go again - rationalizing the jobless figures

Jan 20th – “lower than expected” at 404,000

A Labor Department official said the larger-than-expected decline was partly explained by jobless claims returning to trend after the big rise the earlier week.

Translation: Last week’s rise was just a blip. This proves the Obama economy is working.

Jan 27th – “higher than expected” at 454,000

A labor spokesman said snowstorms earlier in the month forced unemployment offices in Alabama, Georgia, North Carolina and South Carolina to open fewer hours and process fewer claims. A reduction in the backlog contributed to the sharp increase in new claims, the spokesman said.

Translation: This week’s rise is just a blip. This proves the Obama economy is working.

Here we go again! This is just like last year, when temporary census jobs were considered proof of Obamanomics’ greatness, but when the jobs went away that didn’t really count as bad news because we knew they were only temporary. In this case they are once again saying this week’s rise doesn’t count because it’s artificial, but they still want credit for last week’s drop that was artificial.

Heads I win; tails you lose.