Beware of the False Claims About Jobless Claims
WASHINGTON, Jan 29 (Reuters) - The number of people remaining on the unemployment benefits roll after drawing an initial week of aid, or continued claims, rose 159,000 to a higher-than-forecast 4.776 million in the week ended Jan 17, the most recent week for which data is available. The Labor Department said this was the highest reading since its records on this series began in 1967.
Bottom Line: Adjusted for the size of the labor force, we're still nowhere close to a record for continued unemployment claims. But that reality won't stop the media from reporting "record jobless claims," there are already dozens of new stories with that "false claim" about "record claims."