New claims for unemployment benefits fell more than expected last week.http://www.usatoday.com/money/economy/2010-03-25-unemployment-claims_N.htm
The Labor Department said Thursday that first-time claims for jobless benefits dropped 14,000 to a seasonally adjusted 442,000. That's below analysts' estimates of 450,000, according to Thomson Reuters.
But most of the drop resulted from a change in the calculations the department makes to seasonally adjust the data, a Labor Department analyst said. The department updates its methods every year. Excluding the effect of those adjustments, claims would have fallen by only 4,000.
"[M]ost of the drop resulted from a change in the calculations the department makes to seasonally adjust the data"?
You knew it was just a matter of time before someone started monkeying around with the methodology in order to make the numbers look better.