Moody's lowers August 2012 US job expectation to 140,000 from earlier 150,000-LA Times

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Previous week claims 'revised upward' enabling this week's headline trumpeting claims 'unchanged.' Moody's lowers August expectation to 140,000.

8/30/12, "Jobless Claims in U.S. Unchanged Last Week at One-Month High," Bloomberg, Woellert

"More Americans than forecast filed applications for unemployment benefits last week, a sign that progress in the labor market is faltering amid a slowing economy.

Jobless claims were little changed at 374,000 in the week ended Aug. 25, matching the upwardly revised figure from the prior week, the Labor Department reported today in Washington. The median forecast of 50 economists surveyed by Bloomberg News called for 370,000. The four-week moving average, a less volatile measure, climbed to a six-week high."...

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8/30/12, "Jobless claims unchanged last week at 374,000," LA Times, Jim Puzzanghera

"Initial claims for unemployment benefits were unchanged last week at 374,000, slightly higher than analysts had expected, indicating jobs growth was still sluggish.

The four-week average for jobless claims ticked up to 370,250 from the previous week's revised figure of 368,750, the Labor Department said Thursday. Seasonally adjusted initial claims have been slowly increasing since the week ending July 21, when the number was 357,000.

The data point toward little movement in the unemployment rate in August, which the government is scheduled to release on Sept. 7....

Friday's figures on initial unemployment claims led Moody's to lower its expectation for August job growth to 140,000 from an earlier projection of 150,000, he said.

The unemployment rate was 8.3% in July, when the economy added 163,000 net new jobs."...

If Obama had sons, they'd all look like these young men seeking construction jobs at a New York job fair, ap photo via LA Times, 8/30/12.

3/23/12, "Obama: "If I Had A Son He'd Look Like Trayvon"," Buzzfeed, Zeke Miller

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