MSNBC Falsely Reports That Jobless Claims Edge Lower

"The Labor Department reported Thursday that new jobless claims dropped a seasonally-adjusted 2,000 to 387,000 from a upwardly revised 389,000 the prior week. Economists polled by Reuters had forecast claims falling to 380,000 last week."

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This qulaifies as both Economic Madness and Media Madness due to the deceptive nature of the above remark. MSNBC does its best to spin this as a positive.

Here's how. Suppose they reported this weeks estimate of new jobless claims of 387,000 compared to last weeks estimate of new jobless claims of 380,000, that would be a negative because of the increase of 7,000 when comparing apples to apples. The jobless numbers are heading the wrong way and MSNBC uses the revised estimate from last week - 389,000 to compare to this weeks original estimate, showing a superficial decrease.

Furthermore, if reported separately and accurately this is double trouble. First, this weeks estimate is 7,000 higher than last weeks estimate (387,000 compared to last weeks estimate of 380,000). Second last weeks revised total is 9,000 higher than originally estimated (389,000 compared to 380,000). It's just that simple, but the media spins to intentionally mislead the unsuspecting public.

Just as the revision to the previous week that was made last week was upward from the original estimate that was released two weeks ago. Are you following this? I hope so. The media are spin masters for the left, doing everything they can to trick us into believing that things are improving, when our own lying eyes tell those of us paying attention otherwise.