On jobless benefits and holiday hiring
youranonsanon says: No *@^! Sherlock, and holiday hiring is why, huge post holiday layoffs can be expected.
» SFB says: Actually … if you hop over to the source article, you’ll see the trend line on new unemployment benefits has largely been declining for months, beyond the holidays. (Minus a couple hiccups, such as a huge jump caused by a Verizon strike.) On top of this, the Department of Labor clearly states the data is seasonally adjusted, meaning that it theoretically shouldn’t be affected by holiday hiring unless there was something out of the ordinary that affected the numbers. In fact, minus the seasonal adjustment, the number of new jobless claims is roughly 70,000 higher. This explanation, which was hinted at in our post, is the more likely one, though even then, this number strictly accounts for new applications, not long-term jobless benefits. — Ernie @ SFB