Today at Bloomberg we find this unexpected news about unemployment:
Applications for U.S. unemployment benefits unexpectedly climbed to a nine-week high, underscoring the difficulty adjusting the data for seasonal variations such as the Easter holiday and spring recess at schools.
Jobless claims rose by 14,000 to 344,000 in the period ended April 26, the highest level since Feb. 22, Labor Department data showed today in Washington. The median forecast in a Bloomberg survey of economists called for 320,000.
There are two things the media never expects: (1) The Spanish Inquisition and (2) increases in jobless claims. Over the past five years, in 30 of the past 60 months, the media has considered it “unexpected” when jobless claims increase: