Thursday, May 24, 2012

Moving the goalposts again - Initial jobless claims edged down 2,000 last week, resulting in a lot of "jobs improve slightly" headlines.  How'd that happen?  Well, last week's estimate was revised up by 2,000 - voila! - a "better" job picture.  This is the 62nd time out of the last 63 estimates that have been revised in one direction.

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