Jobless Claims Huge Miss To Expectations Of 380K, Print At 412K, Previous Revised Upward, Core PPI Higher Than Expected

Tyler Durden's picture

The BLS beat the expectations game continues. While this week's number of people filing initial cliams surged to 410K, blowing out expectations of 380K, it is once again the prior revision that shows the true nature of the BLS. As we said last week when claims printed at 382K, better than expectations: "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." Sure enough: last week's number was revised... to 385K, meaning there was no beat. Obviously this week's number will be revised higher next week. As usual. Looking at continuing claims we see the same thing: the prior number was revised from 3,723K to 3,738K, meaning the drop to this week's 3,680K was better than expected. Lastly from the BLS, people claiming EUCs and Extended Benefits increased by about 40K in the week ended March 26 (full report here).

Elsewhere, PPI printed at 0.7% on expectations of 1.0%, down from 1.6% previously. PPI ex food and energy came at 0.3%, up from 0.2% previously, which also was the expectation for the March number. As El-Erian says on CNBC: "People may be surprised by the rate at which the core goes up." As for headline prices dropping, looks like once again nobody at the BLS actually bought food or filled up their car in the past month: the 0.7% headline number was the lowest since November 2010 (full release)

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Cdad's picture

This is just one of those rich mornings...when no matter where you look, nothing but FUBAR.  And yet, per the recent takeover of the BlowHorn [CNBC] by the New American Marxist/Banker party, we are about to be treated to a criminal syndicate Wall Street banker who is going to tell us just how bullish he is...on tech.

In the years to come, as we try to explain to our children just how and why we sold their liberty, it will be clips like this that will still be echoing in my mind, one of the hockey helmet wearing criminal bankers pushing "tech" as Japan nears complete nuclear holocaust, and the dollar collapses, and the China bubble pops, and the first rumblings of the zombie apocalypse shake the ground.  

And yet the idiot banker with his blinders on tells us how exciting the present moment is, in hardware and the Internet, how he likes iPads and smart phones, etc puking etc.

And I'm going to have to explain to my children that, on that whole liberty thing, that relic, unfortunately America decided to bow down to mentally retarded and immoral banker fuckwads...and sorry son...there you go.

FUBAR, brothers!  Even the government stooges cannot keep the FUBAR from leaking out today.  Weekly jobless claims....SURPRISE!  So much for an improving labor picture.

John Law Lives's picture

If everyone did their part and turned CNBC off, it would go away.

Cdad's picture

I would like to believe that, John.  However, since the New American Marxist/Banker party took over the BlowHorn [CNBC], their revenue stream changed.  I'm pretty sure it is not the return on advertising dollars that pay the bills at that network.  Just look at their ratings.  They are so unbelievably bad that, were you correct, the network would already be gone now...OR...COMCAST would be firing some pretty high profile personalities there in an attempt to re establish journalistic integrity. 

Nope...I think the money comes directly from...the New American Marxist/Banker party's propaganda wing...quarterly "contributions."  There is no other explanation for why the network is still on the air.  The criminal syndicate Wall Street banker network exists...for bankers.

Oh...and because I know the comment that will come next, I do not watch them to keep informed on economic issues...but rather for staying up to date on just how far down the Marxist road we are [so spare me those comments for the 100th time].

John Law Lives's picture

Perhaps you are right.  There is an obvious bias to their content.

 

<<< Oh...and because I know the comment that will come next  >>>

You won't get that from me.  I haven't watched CNBC in ages.  You can spare yourself a headache by turning it off.  

SheepDog-One's picture

Lets see how bullish tech is when they realize no IPhone or other ICrap parts are available from Japan! These Criminal racketeers are going to have to eat crow by the bushel soon. Even the Geisha Bukakke girls Quick Burnett and Liesman wont be able to placate the 401K bathrobe brigades this time around.

Cdad's picture

Quick Burnett and Liesman wont be able to placate the 401K bathrobe brigades this time around.

LOL!  Classic SheepDog-One ism.  Good one, Dog.

SheepDog-One's picture

I read a chilling article laying out just how far reaching Japan is for ALL cars, nevermind Toyota and Honda spin. GM and all the pther US cars are filled with Japanese parts, wiring harnesses, switches, we dont make any of that! And wormy Apple is Japanese parts assembled in China. What are they going to make Iphones out of now? 

That Japanese disaster was immediately kidnapped, thrown in the back of a black van with a blanket over its head. But they cant keep it under wraps for long.

Cdad's picture

Correct Dog.  They just had to keep in under wraps long enough to take down the Japanese market, then mark it back up...while they also printed their double top in the US market.  Nothing has anything to do with anything...real.  That is the state of the state, the world that Ben Bernanke made, the institutionalized nature of pathological lying that the criminal syndicate known as Wall Street has established as baseline, or common.

They own the networks, and they can get away with it...for a while...but eventually, one or two criminal syndicate Wall Street bankers have flashbacks...and they remember things like credibility.  They talk, say something on the New American Marxist/Banker party network [there have been a couple].  And eventually, the herd is forced to turn.

Dog...NOT ONE CHANGE over at the BlowHorn [CNBC] since the merger.  Can you believe that?  So telling...blankets and being tossed into the back of panel vans...like you say.

aerojet's picture

WTF is the problem?  We can start making all that stuff and go right around Japan if so desired. 

topcallingtroll's picture

ishit is about to hit the fan.

AccreditedEYE's picture

Earth to Ben: INFLATE THRU PROBLEMS= FAIL

aVian's picture

normalcy bias...its all OK...so where to move to...any thoughts?

Dr. Richard Head's picture

The Icelanders seems to enjoy shoving the imposed debt back into the bankster's bernanke (aka ass - I will be using Bernanke as an expletive from this point forward).  I need to learn their language.  Is there an app for that?

Problem Is's picture

You mean a multi purpose expletive like:

"Hey Bernank you, you Bernank-hole!"

Dr. Richard Head's picture

Bingo.  It's bernanking fun too. 

Commander Cody's picture

And the Titanic's bow takes a dip.

Dr. Richard Head's picture

No, no, no.  It was just Percy Cornelius Taylor's "A" string on his cello that broke.  That was the sound you heard and not the bulkheads filling with water.  That is all. 

Josh Randall's picture

Wonder if the Toyota and other car mfg employees are rolled up in there yet

aVian's picture

they wont count them until they have too

Global Hunter's picture

Damn you should work for the BLS, you could spin that.  "One time gain due to car manufactures shutting down".  Like it.

Herman Strandschnecke's picture

Employment in Japanese specialist  Junk Yard operations should increase?

I hear that Airbus A380 wing repairers are also in demand.

topcallingtroll's picture

the race between core and real gdp is heating up

Racer's picture

Ah yes, the Bureau of Lies and Scams can be relied upon to continue the lies and fiddles

topcallingtroll's picture

goldman had to know this before their topcall, those trolls

Oh regional Indian's picture

With a SNAP of BLS fingers, all NUMBers are revised at will.

Meanwhile, sheeple wallow in the mire, what was once the exclusive domain of PIIGS.

Hmmmm, How to make Sheep Pigs in one fell revision.

I think that is revisionary mutation right here.

ORI

http://aadivaahan.wordpress.com/2010/06/30/snake-eyes/

Eireann go Brach's picture

Ahhhh Ben, what do we do now, Print Barry Print! Ahhhh ok, order more printers then, we dont print money Barry, we just add zeros on a computer, stop confusing me Ben....

ivana's picture

Have to love such Dpt of Truth!

the not so mighty maximiza's picture

one word " winning the future" 

SheepDog-One's picture

I knew with Barry Soetoros yammering about how things will be 30 years from now that all out depression for 2011 was confirmed.

the not so mighty maximiza's picture

freudian slips, 30 year depression; i agree

Angry-Irish's picture

"A Labor Department spokesman said claims typically jump in the week following the end of a quarter. Workers who wait to file in the next quarter sometimes can get higher benefits based on periodic adjustments in how they are calculated."

http://www.marketwatch.com/story/weekly-us-jobless-claims-jump-27000-to-...

Blah, blah, blah.

It's funny, you never hear the Labor Department explain why improvements in the New Claims number are the result of temporary anomalies that should be discounted.

This simple facts shows that the BLS's remit is the recording of labor statistics but the marketing of them - and always with a positive slant.

DoctoRx's picture

Bullish for gold.  

Printfaster's picture

Not so.

You first have to have income and savings to buy it.

breezer1's picture

everyone here is too negative. those guys are just trying to keep everyone calm.( while they dry ass fuck the rest of the population of the world)

cowpieflapjack's picture

Why do they even bother to trot this shit out? There's a

load of hurt going on out there and from what I can tell the wrong people are feeling it.

SheepDog-One's picture

They really dont care and in fact wish all of us would just drop dead. When people realize that is the truth, they see everything in a completely new light.

aerojet's picture

Yup, pretty much.  We're farm animals to them.

trav7777's picture

and of course EVERY farmer wants nothing more than his farm animals to drop dead

ItsEvolutionBaby's picture

There comes a time where the farmer slaughters his animals for meat.

And the animals never see the farmer sharpening his knives.

Animals are caged on a farm, not free.

Fox-Scully's picture

It's all about WTF (winning the future)--please do not live in the present!

dexter_morgan's picture

The truth is out there.........

I am Jobe's picture

Percent of people working lowest since ’83…Only 45.4% of Americans had jobs in 2010

http://investmentwatchblog.com/percent-of-people-working-lowest-since-83...

cowpieflapjack's picture

A budding Steinbeck puts words to paper in a garret somewhere....

Josh Randall's picture

Exactly - everyone thats ailing needs to hop on 66 while the ole Mother Road is still available and head West. Whether they find a Labor Camp, a Beach, or actually a new job is immaterial, because the drive will be good for the soul. The human highway is still out there for those whom seek help, love, and understanding from their fellow man

LawsofPhysics's picture

At this point, eliminating the BLS might be a good idea.

web bot's picture

The solution is pretty simple.

The US needs to balance its budget within a 3 to 4 year time frame with measurable goals. Pure and simple. Otherwise, buckle your seat belt, and add a zero to the unemployment number.

Unless a clear plan can be signalled to the markets and they see an end to this structural deficit, we're headed for default.

mayhem_korner's picture

How about Congress gets 10% of what they cut, divided pro-rata among all the "yea" votes? And a bonus 2% for entitlement cuts... They'd be in permanent recess inside of 45 minutes and we'd have the entire slate to re-elect.

cowpieflapjack's picture

Another bureaucratic backwater "office" whose relevance has passed.