Initial Jobless Claims Rise Again

Nothing like some jobless claims numbers to bring us down from our post-debate high. Initial jobless claims have risen again. And of course, the numbers reported last week were revised upward.

The number of people who applied for U.S. unemployment benefits rose to a seasonally adjusted 367,000 in the week of Sept. 23- 29, the Labor Department said Thursday. Economists surveyed by MarketWatch expected claims to rise to 370,000. Initial claims from two weeks ago were revised up to 363,000 from an original reading of 359,000, based on more complete data collected at the state level. The average of new claims over the past month, meanwhile, was unchanged at 375,000. (Read More)

We simply cannot afford four more years of this.

Update: Linked by The First Street Journal, where it’s noted that the big number comes out tomorrow.

Tomorrow is the reporting date for the Big Number, the official unemployment rate. A lot of conservatives believe that the numbers will be manipulated so that the official unemployment rate will be below 8% just before election day, and then “revised upward” after the election has passed. But even if that happens, the real unemployment rate, the numbers as they should be counted (meaning: not excluding “discouraged” people who have stopped looking for work) will be over 10%.

That’s certainly a plausible scenario.