This graph shows a disntinct ocilation is occuring. While at some point, claims have been decreasing, it swing immediately in the opposite direction and more cliams are filed.
The data are oscillating about a slowly increasing value, indicating that, if anything, unemployment claims are increasing. That means that for the past 5 1/2 months, every time the administration has told us that the unemployment situation is slowly recovering, and that the data show “the right trend,” they have been absolutely mistaken.For years under the Bush Administration major media harped on a jobless recovery in the short/sharp recession following 9/11...when jobs did recover to the point at which the recession began...major media never seemed to follow up on that point. When is the MSM going to take a hard look at this and realize that they are flushing what remains of their credibility away?
The media has been doing their typical baby duck analysis: every day is a brand new day, every unemployment claims report is the first one they’ve ever seen. So we get headlines like, “job situation improving” when the number of claims drops, and “unexpected increase” when the number rises.
For half a year the claims data has just been oscillating – going nowhere. And nobody seems to have noticed.