Bloomberg and Reuters are both reporting that jobless claims rose last week to a 2-month high.
Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000, the Labor Department said on Thursday. The prior week’s figure was revised up to 367,000 from the previously reported 357,000. Economists polled by Reuters had forecast claims falling to 355,000 last week.
Reuters headline reads, “Jobless claims unexpectedly rise last week.” I can’t be the only person noticing that every incidence of not-good news is accompanied by the word “Unexpected.” One wonders what the hell these “economists” that Reuters references are looking at that they are incorrect so consistently? And after a certain point, shouldn’t even Reuters begin to notice and report the errant economists polls a bit more critically?