Once again, economists are disappointed at the “unexpected” news that jobless claims exceeded their prediction. Throw together each month’s revision of the past month’s first call, always lower, with the continuous surprise at dismal numbers and you might think that someone out there is trying to paint a rosier picture of the economy than is warranted. The initial figures grab the press, the lower revisions thirty days later are ignored by the media. Could someone be playing these numbers to help the incumbent? Oh, who would do that?
UPDATE: Existing Home sales “unexpectedly” fall 2.6%. Economists predicted an 0.5 % increase.