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Jobs: Rosier than Reality?

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  • Description

    FBN's Peter Barnes on confusion over jobs numbers

  • Duration 1:34
  • Date

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This transcript is automatically generated

-- Nicole thank you.

And another potential.

Well potential and -- on the jobs front this comes running today's initial jobless claims.

Look at the asterisk next next to this right here you see that number it's called a lot of confusion and Peter Barnes got to try to clear up some of the -- -- in Washington looking at a Peter.

Pride as a -- like the jobs report last Friday we have another positive jobs number just a few weeks before Election Day but it also might be a little -- -- The Labor Department reporting today the weekly claims for unemployment insurance -- last week.

Fell unexpectedly.

To 339000.

But economists were expecting 370.

Thousand for last week about a and changed the Labor Department is blaming one large state for failing to report.

All of its claims numbers -- spokesperson will not name the state but several economists say that because the weekly drop was so big.

Gotta be.

California.

One economist says the large state in question -- forgot to include the thousands of on process claims relating to seasonal factors around the beginning of the fourth quarter which started October 1 the Labor Department spokesperson says that the state has a history -- reporting.

Volatile numbers at the beginning of quarters and that the department has complained.

And tried to work with state officials to more accurately report its claims but with -- little success he says that beyond process claims will show up in the numbers in the next week or two quote we should see some sort of catch up meaning maybe a rebound.

In those claims numbers.

That expected.

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