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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (159494)9/12/2013 8:43:51 AM
From: TideGlider1 Recommendation

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U.S. Jobless Claims Fall; Faulty Reporting By States Blamed
Last update: 9/12/2013 8:30:11 AM
    By Sarah Portlock and Josh Mitchell

WASHINGTON--The number of U.S. workers applying for jobless benefits fell sharply last week, but a government official cautioned the drop was largely due to faulty reporting by states.
First-time benefit claims, a proxy for layoffs, decreased by 31,000 to a seasonally adjusted 292,000 in the week ended Sept. 7, the Labor Department said Thursday. That was the lowest level of claims since April 2006. Economists forecast the figure would be 330,000 claims. The prior week's level was unrevised at 323,000.
A Labor Department analyst said that last week's figure was lower than expected because two states failed to report all of their claims as they transitioned to a new computer system and the applications either weren't received or didn't get processed. The analyst, citing agency policy, did not name the states, but said one was large and one was small. He said most of the drop was not necessarily indicative of an improving labor market, and that revised estimates in coming weeks would "reasonably" correct the data. He also said a shorter week because of the Labor Day holiday may have played a role in the lower figure.
"A couple of states were doing computer-system conversions and that resulted in fewer claims being reported," the analyst said. "That played a part--probably the majority of the reason--why the claims in the direction they did this morning."
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