Jobless Claims: 454,000 - Stagflation Baby (Confirmed By Durable Goods)

Tyler Durden's picture

Expectation of 405,000... Print: 454,000! Worst print in forever (well, October). The BLS calls it a "weather related backlog." Read - snow. Call it what it is - Stagflation, baby.

Non-seasonally adjusted number came at 482,399, as 161,913 people fell off extended benefits.

Continuing claims: 3,991K on expectations of 3,873K.

And just to complete the stagflationary picture, durable goods decreased by 2.5% on expectations of plus 1.5%, down from -0.1%. "This decrease, down four of the last five months, followed a 0.1 percent November decrease. Excluding transportation, new orders increased 0.5 percent. Excluding defense, new orders decreased 2.5 percent."

Note the level of deterioration: durables down from -0.1% to -2.5%, durables ex transportation to 0.5% from 4.5%; Orders non-defense ex aircraft: 1.4% from 3.1%... Bloodbath.

QE3 here we come!

The state by state breakdown is like the insider selling to buying ratio, only flipped, and very much made up.

STATES WITH A DECREASE OF MORE THAN 1,000 (unadjusted)


State

Change

 

State Supplied Comment

NY

-28,714

 

Fewer layoffs in the construction, service, and transportation
industries.

GA

-19,429

 

Fewer layoffs in the construction, trade, service, and manufacturing
industries.

NC

-16,132

 

Fewer layoffs in the construction, trade, service, food,
textile, furniture, rubber/plastics, and lumber/wood industries.

PA

-14,859

 

Fewer layoffs in the construction, service, and transportation
industries.

CA

-14,309

 

Fewer layoffs in the service industry.

IL

-10,155

 

No comment.

AL

-9,550

 

Fewer layoffs in the construction, service, and manufacturing
industries.

MI

-9,464

 

Fewer layoffs in the construction industry.

SC

-7,318

 

Fewer layoffs in the manufacturing industry.

TX

-7,190

 

Fewer layoffs in the trade, service, and manufacturing industries.

OH

-6,776

 

No comment.

WI

-6,640

 

No comment.

CT

-6,545

 

Fewer layoffs in the transportation and manufacturing industries.

WA

-6,228

 

No comment.

VA

-6,107

 

State offices were closed 1/14/2011, as well as fewer layoffs
in the manufacturing industry.

MO

-5,871

 

No comment.

IN

-5,608

 

Fewer layoffs in the automobile and trade industries.

MA

-5,317

 

Fewer layoffs in the construction, trade, service, and manufacturing
industries.

NJ

-4,579

 

Fewer layoffs in the construction, trade, service, transportation,
warehousing, and manufacturing industries.

TN

-4,576

 

Fewer layoffs in the trade, service, and manufacturing industries.

KS

-4,541

 

No comment.

KY

-3,218

 

No comment.

MN

-3,054

 

No comment.

MD

-2,957

 

No comment.

OR

-2,203

 

No comment.

CO

-1,733

 

No comment.

MS

-1,728

 

No comment.

LA

-1,504

 

No comment.

AZ

-1,328

 

No comment.

AR

-1,266

 

Fewer layoffs in the trade industry.

MT

-1,206

 

No comment.

UT

-1,017

 

No comment.


STATES WITH AN INCREASE OF MORE THAN 1,000 


State

Change

 

State Supplied Comment

FL

+6,646

 

Layoffs in the construction, trade, and service industries,
and agriculture.