Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Jobless Claims Revisions Hiding True State of Employment

Details

  • Description

    FBN’s Liz MacDonald breaks down the latest unemployment data.

  • Duration 2:30
  • Date

Clips

Also in this playlist...

Markets Now

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

-- that -- the president may actually a bigger challenges than even he thinks on the issue that Monica was talking about there that would be.

Odd jobs because Wall Street started to become.

More skeptical over some of the job numbers Liz MacDonald saw that story force today.

She did the district had all these revisions here we really trust the numbers and -- this is kind of an interest.

Yeah you know cut out -- we're seeing an unusual trend breaking and the jobless did there for the last 58 of 59 weeks.

They're being jobless revisions that all of them have been back to back higher jobless revisions you can see this -- starting in the beginning of the year starting in January.

The Blue Line is -- initial jobless claims coming in.

Check -- the next -- even a sea of Red Sea reliant on top of that blue line showing that the claims actually were higher after revisions so again.

58 of the last 59 weeks -- more than a year back to back.

Revisions higher -- the weekly improvement is not as strong as -- initially the first batch of numbers initially.

Suggest so you know the initial jobless claims.

Not looking so great after the revisions we saw just this week.

-- when you -- the week to week comparisons in the it's usually -- we're number that was revised higher so you can't have a lower number coming in.

In the most recent data but then compared to a higher number which was actually revise -- that this a big problem for Wall Street and economists are sitting up the scratching their heads saying.

What's going on here.

Could be a potential problems -- talking about Monica for.

The president's -- jobs being so important this year but admits -- it seems kind of -- that you would have this many revisions to the upside in a row but -- -- common and and how often does this kind of thing happen.

It's uncommon occurrence economists think -- Europe for example is warning.

Wall Street to say hey you know take a look at the -- take a look at the data as it comes -- And figure and bad that there that there will be a revision and stick to the numbers are 30780003.

And 80000.

For revision meeting -- revise -- number higher.

So you know even Wall Street is taking notice of this and this is happening for.

More than a year not just the beginning of the year and in fact Connell.

Get this we looked at the numbers Charlie Brady and I going back to November and the initial numbers are all it understated by -- 100000 jobs so that's not gonna go back the 58 weeks that would -- this trend right so there's probably an understatement of multiples of that so again.

Understatement of jobless claims by about a 100000 going back to November -- -- -- I stayed up and getting back to with more Connell excellent potentially big story thank you Liz Liz MacDonald there in the --

Load More