This page has been archived and commenting is disabled.

Initial Claims Tumble Even As 1.3 Million Americans Are Set To Stop Collecting Benefits

Tyler Durden's picture




 

Despite the BLS claiming no states estimated their data and the previous week's apparently errant (but significantly not revised lower), the claims data this week saw its biggest week-over-week percentage drop since January 2006 (which ironically almost perfectly bottom-ticked the previous 'recovery' claims improvements). Continuing claims, however, rose for the 3rd week in a row - the largest 3-week rise in since March 2009! Of course, the more critical part of the labor department's report is the end of the Emergency Unemployment Compensation (EUC) program which will pay one more claim this week and then 1,333,332 will begin to lose their benefits. EUC benefits cannot be paid for any week of unemployment after Dec 28th (which, of course, is great news for the unemployment rate). 

Initial Claims dropped the most since Jan 2006!

 

and Continuing Claims have seen the biggest 3-week rise since March 2009...


 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 12/26/2013 - 09:51 | 4276541 Headbanger
Headbanger's picture

10 Year about to blast above 3%

http://www.marketwatch.com/investing/bond/10_year

Thu, 12/26/2013 - 10:03 | 4276557 GetZeeGold
GetZeeGold's picture

 

 

Please do remember to sign up for your almost free healthcare!

Thu, 12/26/2013 - 10:02 | 4276559 slotmouth
slotmouth's picture

Just shut up and buy a house in Detroit already.

Thu, 12/26/2013 - 10:24 | 4276588 Winston Churchill
Winston Churchill's picture

They couldn't make change of a hundred, so I ended up with four.

Thu, 12/26/2013 - 11:55 | 4276756 de3de8
de3de8's picture

If you think that the extended claims will stay cancelled,don' t kid yourselves. A few days after they will be reinstated as only compassionate thing to do, besides Nancy PUlosy will educate the Sheeple that every dollar of compensation creates three dollars in growth.

Thu, 12/26/2013 - 12:01 | 4276770 insanelysane
insanelysane's picture

A few friends of mine are having trouble filing initial claims in Massachusetts never mind getting extended claims.  I am thinking tha California and other big states got the same memo to slow down the filing process, not that gov workers really need to be told to slow down.

Thu, 12/26/2013 - 09:49 | 4276542 Bobbyrib
Bobbyrib's picture

All hail the Ministry of Truth..

Thu, 12/26/2013 - 09:51 | 4276546 PrecipiceWatching
PrecipiceWatching's picture

OK.

So specifically WHERE in the Commieconomy are they going to work?

Sorry, Government "work" of ANY kind doesn't count.

Thu, 12/26/2013 - 09:54 | 4276547 thismarketisrigged
thismarketisrigged's picture

all i know is that this is very bullish for equities and bearish for gold and silver, just like everything is.

 

isnt it funny how whenever we would get like a 1-2 percent drop in the market, all the msm douchebags would come on and say how its good for the market, we need a correction, but when it goes up every single day now without a correction, it must be that fundementals r doing so well.

 

also, i know we have discussed on here how the 10 year hitting 3 would put pressure on equities, but as its marching towards 3 as we speak, futures just continue to seem to move higher? why is that?

Thu, 12/26/2013 - 09:55 | 4276552 Headbanger
Headbanger's picture

It's from PFM..   Pure Fucking Manipulation !

Thu, 12/26/2013 - 10:10 | 4276574 GetZeeGold
GetZeeGold's picture

 

 

Word up there dawg....we call it printing money....but we don't actually use paper.

Thu, 12/26/2013 - 10:22 | 4276583 Kina
Kina's picture

Gold up and AUD down.....curious. How long will that last?

Thu, 12/26/2013 - 10:31 | 4276596 TheRideNeverEnds
TheRideNeverEnds's picture

they just need to relax and buy stocks, at worst they can do is be up 5% per month. 

Thu, 12/26/2013 - 10:58 | 4276632 kenezen
kenezen's picture

When most accept numbers and figures that have no basis in logic or fact, then we have successful government. At least that's what government constantly assures us. Unemployment 7%.hee hee!

Thu, 12/26/2013 - 11:09 | 4276670 MontgomeryScott
MontgomeryScott's picture

The actual quote was given in 1981, by (then) CIA director William Casey:

"We'll know our disinformation program is complete when everything the American public believes is false."

That's what is called 'successful government'!

Thu, 12/26/2013 - 11:04 | 4276647 eric89074
eric89074's picture

1.3 million people that are obsolete and will never have another good paying job.

Thu, 12/26/2013 - 11:36 | 4276726 FieldingMellish
FieldingMellish's picture

Gold miners about to go negative as stocks hit yet more ath. This thing is unstoppable.

Thu, 12/26/2013 - 12:40 | 4276863 MickV
MickV's picture

So let's see. Avg new unemployment claims 325K> every WEEK for 5 years. New Jobs < 225K every MONTH for 5 years. That's a deficit of 1.075 million per month for 5 years. I realize that .GOV is putting all those people in "not in the labor force". Can't the media and CNBC, MSLSD, et al do simple math?

All by design. Treason being committed on a massive scale by the fellow travelers and useful idiots, along with the Domestic enemy British subject POTUS.

Thu, 12/26/2013 - 12:48 | 4276881 yogibear
yogibear's picture

All fixed. The BLS fixed the stats. Everything looks better, adjust here and there before you know it the stats say the economy is booming.

Mr market looks at the BLS, not reality. So where's the stock market rally monkey?

Thu, 12/26/2013 - 12:52 | 4276890 gina distrusts gov
gina distrusts gov's picture

Merry commercialmass and a happy bankrupcy to all

Thu, 12/26/2013 - 13:11 | 4276930 Tsar Pointless
Tsar Pointless's picture

So initial claims when not seasonally manipulated - er, adjusted - barely moved (414k vs. 413k) week over week, yet somehow, the seasonality factor was so much more skewed this week than last, with a drop from 380k to 338k.

Funny shit.

Thu, 12/26/2013 - 13:46 | 4277029 Colonel Klink
Colonel Klink's picture

I think I feel my schadenfreude acting up.

Thu, 12/26/2013 - 14:50 | 4277222 monad
monad's picture

Arm the homeless

Do NOT follow this link or you will be banned from the site!