Initial Claims Misses By Most Since Sandy, Reverts To 2012 Average

Tyler Durden's picture

It would seem initial claims can be summed for 2012 in one word, 'average'. This last print of 2012 was almost perfectly at 2012's average of 372, the biggest miss since the first week of November and the Sandy disturbance. Notably, last week's print was revised higher (after 19 states failed to report and were 'guessed at) by 12k jobs to 362k having now risen for 3 weeks in a row (on a seasonally adjusted basis). When we scratch below the surface at non-seasonally-adjusted the numbers are much more concerning than a rampaging equity market would care to note, NSA initial claims rose 40,459 to 495,588 on the week. Ohio, Michigan, and Pennsylvania saw the biggest rises in claims while California dominated the drop in claims (by state) down 11,789. 73k Americans lost Extended Unemployment Benefits in the week ended December 15th.

 

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firstdivision's picture

Also MBA apps was pretty shitty to put it bluntly.

Snakeeyes's picture

MBA applications alway are lousy at year end. Let's see what happens next week ... when people realize that their pay is down 2% AND they start paying Obamacare taxes (like the 2.3% Medical Device Excise Tax).

http://confoundedinterest.wordpress.com/2013/01/03/happy-new-year-mortga...

otto skorzeny's picture

IL's unemployment #s will rise after all of the gunmakers move out of the state after today's gungrab laws are passed in a lame-duck state senate session.

firstdivision's picture

Yes, just like Jack Daniel's GTFO of Moore County.....oh wait

Stoploss's picture

Ha, ha. Math, it's a bitch..

Water Is Wet's picture

Must be why it got dumped 4+ years ago.

otto skorzeny's picture

it hurts my head-i like to keep it lite w/ shit like which fat-assed Hollywood whore is getting knocked up by some has-been rapper shine to produce a lil' half-n-halfer

GMadScientist's picture

Say what you will, mixed race kids are always beautiful...Mother Nature loves mutts.

That's one way to address Trav's obsession with IQ distributions: match high IQ people with low IQ folks until it averages out!

 

DosZap's picture

Say what you will, mixed race kids are always beautiful...Mother Nature loves mutts.

 Obywan you think he's bootiful?.Where I come from they are Mulatto's.

AU5K's picture

kind of ironic that 73k losing unemployment benefits is mathematically the same as creating 73k jobs for the NFP unemployment rate calculation.  #winning!

Joe Davola's picture

PA losing mining jobs due to tightened regs on coal fired electric generation.

SheepDog-One's picture

OMFG all is well slaves! Buy stawks like massa do!!

Water Is Wet's picture

The profit-to-earnings ratio looks more gooder.

tom a taxpayer's picture

Paging Charles Biderman!

Paging Charles Biderman! 

adr's picture

seasonal  wage slaves are fired at the end of the first week of January. Funny thing is most are part time and not eligible for unemployment. The jobs are always credited for gains but the past four years, seem to never make it into the jobs lost category when they are gone.

Average retail hours per employee, outside managers, have been cut to less than 14 per week. 14 hours at an average of $9 an hour can't buy a lot of iCrap.

asteroids's picture

Amerika is screwed. After 4 years of Obozo, this is the best he could do eh? No real jobs, just propaganda.

sessinpo's picture

Thread exposing where to get the cheapest blowjobs.

 

Coming to a state near you.

GMadScientist's picture

Couldn't you just link a google map to your house instead?

SilverDOG's picture

Undoubtedly, you already have.

GMadScientist's picture

You're right; I GPS tracked you there and to the VD clinic.

Sorry to hear about your herpes diagnosis. :(

Hohum's picture

NSA claims going up the week after Xmas is irrelevant.  NSA claims YOY down 45K.  If that's a legitimate number, we're not at crisis yet.

papaswamp's picture

But but ADP says there were only 580,000 layoffs for the whole year, how can there be 495,000 (NSA) in one week? I'm so confuzzled...

Either ADP is literally making shit up...or over a million people are collect new UE claims every month that shouldn't be.

DosZap's picture

Either ADP is literally making shit up...or over a million people are collect new UE claims every month that shouldn't be.

Yep, exactly what they are doing, just like the BLS,and the CBO, have not hit one NUMBER that has not been corrected.

And Flat out lie on inflation and UE.

Curt W's picture

When searching Yahoo news for initial claims, Zerohedge story was the 4th one listed.