Initial Claims At 382K, In Line With Expectations And Down From Upward Revised 392K

Tyler Durden's picture

No surprise in this number: last week's 388K was revised up to 392K, declining to 382K below expectations of 385K, which in tried BLS fashion will certainly be revised next week so that the actual number will have been a miss but by then nobody will care. Continuing claims were higher than expected at 3,723K on expectations 3,700K, with the prior revised, where else, higher to 3,732K from 3,714K. Importantly, there was a plunge in all persons claiming UI benefits in all programs: down by 245K in the week ended March 19. Altogether nothing special about this update, which refuses to take out recent lows of 375,000.

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I am Jobe's picture

Nothing to see here. Move along. Another lie brought to you by the Govt. Hail Harvard Education. I guess they must have all flunked math 101.

Josh Randall's picture

Meanwhile Liesman's journalism degree goes unutilized. Howabout digging into these constant perverse skewing of numbers instead of shopping for new ties and flavor of the month chicks to wow us with CNBS

John Law Lives's picture

Better yet:  Turn CNBS off and let it die.

Cdad's picture

Most folks over at the BlowHorn [CNBC] are not into journalism.  They are engaged in trying to engineer the new false economy...which is replacing the old false economy.  You see, they want to be on the inside when the New American Marxist/Banker party officially takes power in DC.  

All you need do is watch their coverage on these crap retail sales numbers to understand what this network is up to.  I wonder if anyone at COMCAST knew what they were buying when the purchased the worst network in the US?  Do they want to be on the inside too...or did they buy it hoping to encounter earnings?  I know, a rather old fashioned notion from going a couple economies back.  

Hi  how.  Who cares?  Unicorns are no longer endangered, and UnicorDew is in great supply...wave of the future, dude.

Silverhog's picture

382K below expectations of 385K. Great news to the stupid.

fuu's picture

99 weeks ago was 5/14/2009.

nate28jf's picture

if you havin' job problems I feel bad for you son. I've got 99 problems but a job ain't one.

FoieGras's picture

No double dip I guess? ECRI also doing well I take it?

defn8Dog's picture

allright... here's the perfunctory:  "Bitchez!"  

Joe Davola's picture

And it will be a big deal if the government shuts down and cannot provide these numbers where the previous number is revised upward a couple of thousand and this weeks number is a couple of thousand below the consensus.  What is the pay scale for number fudging?

oogs66's picture

Its getting old.  Jobless claims drop 10k, from an upwardly revised number.  Year to date, the weekly changes as reported are -57k, but the revisions are 29k. 

101 years and counting's picture

so, we've steadied at the recessionary levels of early/mid 2008.  a recovery a retard can be proud of.

John Law Lives's picture

Note of caution:

Watching this video with Romer will make you want to bash the PC screen.  She actually claims a weaker US dollar is good for average Americans...

Cdad's picture

Wow...the BlowHorn [CNBC] is simply sick with it today, bailing out the sinking boat in such a sad fashion.  As retailers report disappointing numbers, these micro events are couched in the language of "they beat because April will be better."  HUH?  Massive language manipulation per commentary on retailers.  I'd be a seller of those...almost all of them.  On Target, ye old "was bad but not as bad as Wall Street had expected." Sweet.  Now that is an investable theme.

Casual diners are about to step up to the chopping block.  Just take a gander at Ruby Tuesday [RT].  Out behind the woodshed for this sector, I suspect.

Now...where is Robo with a Lulu Lemon chart!  Let's rumba the embarrassingly empty and fraudulent US stock market!  Woot!

SheepDog-One's picture

Ive had the Blowhorn shut off for months now, has done wonders for the urge to mash the TV with a brick. Capitulation is everywhere, anyone who has been watching daily for the sure crackup has just gone outside to work on the garden, now theres nothing left in it for the muksters to prop crap higher daily, theyre just marching in place until its go-time. 

And I think Robo got strangled in a leotard wardrobe malfunction. Sad.

Fox-Scully's picture

Ruby (Rubee) Tuesday--Are you talking about the porn star and out behind the woodshed!

X. Kurt OSis's picture

Clearly Madoff can only be rivaled by the BLS, as initial claims will fall by 10k every week, no matter how much they have to revise upwards the prior week's number.

The reason?  The MatLab models that are the only ones trading this market get angry when we get a print of less than a five digit decline.  Since preventing flash crashes is a matter of national security, this is just a continuing example of good govt.

Carry on.

scratch_and_sniff's picture

I suppose it’s more than likely and possibly understandable that the BLS make underestimates on this measure, considering the way the claims are processed... i.e. there is a chance they have misled some claims, some are lost in the post, some are over looked for whatever reason etc. But its less likely that claims which don’t actually exist, or have been made in error(therefore have to be cancelled) show up on the radar in time for the revision. So, all in all, upward revisions are to be expected.

tiger7905's picture

An updated graph of this employment "recovery", (if you want to call it that) that I ran across. Validates just how different things are this time in the US.

sharonsj's picture

I still say the math makes no sense.  If you have first-time jobless claims every week of over a quarter of a million, then a million plus people are out of work every month.  Add in the 150,000 new folks looking for jobs (just based on population growth), then you have a huge number of people competing for jobs, while new jobs are being created at a pathetic level.

It's a continuous downward slide for the entire economy no matter how upbeat the media pretends things are.

Chuck Walla's picture

Its gotta be 8% or less for Zero to get re-elected.  As if all the broken promises and idiot foreign policy moves will be forgotten. Oh, and that little war in Libya. And GE paying no taxes, ObamaCare, high gas and food prices. All bygones, just get that U3 number down.

ragedmaximus's picture

  50,000 new mcdonalds jobs!!!!!!!!!!! 

tomster0126's picture

Wow, great, we've finally made some baby steps.  Call us when some actual recovery starts happening.  Obama is so weak...