Initial claims for state jobless aid fell 7,000 last week to a seasonally adjusted 340,000
A burst of hiring last month added 236,000 U.S. jobs and reduced the unemployment rate to 7.7% from 7.9% in January.
Am I the only one who thinks this makes no sense?
For the last WEEK (7 days) 340,000 people became unemployed and started collecting benefits.
For the MONTH (28 Days) 236,000 people got new jobs.
Yet the unemployment rate went down. I am not great at math but to me this makes no sense.