Few days back, one fine evening (morning?!) US markets were rallying. The headlines in financial sites were screaming that US Jobless claims reduced to 8% from 10% dramatically.
I surprised at the news. Because even for that week thousands of people applied for Jobless claims. How come a unemployment rate which hovers around 10% until yesterday suddenly came down to 8% that too people increasingly applied for jobless claims? It is pretty amazing story. My mind started dreaming about H1B.
Then I dig deep into the news. Finally I found that that it is reported that few Lakh people stopped searching for jobs, so by taking out their numbers they arrived at this figure of 8%. Beware guys. few Lakh people suddenly turned into entrepreneurs in United States in a week's time. Who says US is doomed?
Jokes apart, the point is we should know how news are manufactured by these blood sucking investment bankers in the financial world.
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