U.S. Trade Deficit Narrows, Unemployment Claims Drop- or did it?

When you read the headlines only you miss the really important details.

U.S. Trade Deficit Narrows, Unemployment Claims Drop

The U.S. trade deficit narrowed more than forecast in July and filings for jobless benefits plunged last week, tempering concern the world’s largest economy is slipping back into a recession.

The trade gap shrank 14 percent, the most since February 2009, to $42.8 billion, the Commerce Department said today in Washington. The deficit was less than the lowest forecast in a Bloomberg News survey of economists. New applications for unemployment insurance fell by 27,000 to 451,000, the lowest since July 9, according to the Labor Department.

Sounds like some positive news. Right? Here is the real important details I was talking about:

Nine states didn’t file claims data with the Labor Department in Washington because of the Labor Day holiday, a department official told reporters as the figures were released. California and Virginia estimated their claims, and the U.S. government estimated the other seven.

http://www.bloomberg.com/news/2010-09-09/u-s-trade-deficit-narrows-more-than-forecast-as-exports-hit-two-year-high.html

Do you really think that the Government would estimate that more people lost their jobs than what was predicted by the Wall Street Economists?