In reporting on the unemployment figures released for last week, Bloomberg.com reported today that:
"For the latest reporting week, nine states didn't file claims data to the Labor Department in Washington because of the federal holiday earlier this week, a Labor Department official told reporters. As a result, California and Virginia estimated their figures and the U.S. government estimated the other seven, the official said."
So the statement that "applications for U.S. unemployment benefits declined more than forecast last week, easing concern that employers will accelerate firings as the world's largest economy cools" is based on guesswork. The real numbers are not in play.
Two questions. Will the real numbers ever be published? Why publish anything if you don't have reliable information? I am truly amazed at this report.
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