March 22 1st time jobless claims revised much higher, 3/29/12 claims 'unexpectedly' higher, 78K fall off EUC as more drop out of work force

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3/29/12, "Q4 GDP Comes As Expected, Claims Miss Big Two Weeks In A Row," Zero Hedge, Tyler Durden

"Sure enough, last week's 348K beat of [first time jobless claims] 350K expectations has been revised wildly higher, to 364K, meaning the initial beat was not only a miss, it was wide by a mile relative to the 350K preliminary expectation. But robots do not care - all they care is the current print, which however this time also missed, printing at 359K on expectations of a 350K number. This is the first 4 week increase in the 4 week SMA since September as the weather impact of the record warm winter starts to fade away, as explained yesterday. Same

• gimmicks in the continuing claims number too which like
  
• everything out of the BLS
  

is so meaningless for concurrent data, we will probably just wait until the next week revision to get a sense of what is truly happening. More troubling is that 78K people fell off extended and EUC [Emergency Unemployment] claims as more and more drop out of the workforce. This means

• the unemployment rate just dropped courtesy of

even more people giving up on finding work. Thank heavens for BLS math."...

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