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"Clean" Initial Claims Drop To Lowest In 2 Months
Initial claims fell 10k from last week's revised (and missing 5 states) data for its biggest beat in 2 months and lowest print in 2 months. The 'consistent' YoY ebbing of the initial claims print (aside from the last month or so's statistical glitches and idiocy) is all too predictable and the market simply shrugged as the claims data remains the least correlated to any sense of employment reality of all jobs data. This is the first supposedly "clean" data with no estimates in 2 months, however, the BLS is quick to point out that "claims are difficult to seasonally adjust during holidays" - so another pinch of salt for this data point.
but 'it's different this time' and not structural at all...
Still think the claims data has anything useful to say about the economic progress the US is making?
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Just a reminder. If you lose your part time job.....you can't file for unemployment.
Hey what ever floats yer boat.
I'm not sure how true that is in each state. I checked California as an example and found it depends on numerous factors.
QE is obviously working.
Ted Nugent's latest political rant about John Kerry LOL
http://www.youtube.com/watch?v=wlUcUfHkdYk
Did John ever find a place to park the yacht so he could get out of paying taxes?
Where does Ted Nugent park his yacht?
This is good for Consumer Confidence- Sure it is, with Black Friday and all.
Sarc
I feel better now; I had been worried about the economy and joblessness. Whew, looks like we're out of the woods!
</unnecessary sarc>
YOU CAN KEEP YOUR JOB untill after the hollidays when we don't need that many bagfillers anymore....
More people living off the government tit is good for the economy according to Pelosi.
Able people are still being approved for Social Security Disability. From full-time to unemployment then finally Social Security Disability.
It also decreases unemplyment.
Increase in the FSA increase the liberal voters.
The real unemployment rate is 23-24 percent. The rest is bullshit.
FWIW the unadjusted claims number is actually higher year over year. For the past few weeks it's been 40-50K lower.
Tis the holiday season. Lay offs drop each year at this time.
Gotta love the Department of Lies!