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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...


 

 


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Thu, 12/26/2013 - 09:51 | Link to Comment 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 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

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

Thu, 12/26/2013 - 10:02 | Link to Comment slotmouth
slotmouth's picture

Just shut up and buy a house in Detroit already.

Thu, 12/26/2013 - 10:24 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Bobbyrib
Bobbyrib's picture

All hail the Ministry of Truth..

Thu, 12/26/2013 - 09:51 | Link to Comment 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 | Link to Comment 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 | Link to Comment Headbanger
Headbanger's picture

It's from PFM..   Pure Fucking Manipulation !

Thu, 12/26/2013 - 10:10 | Link to Comment 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 | Link to Comment Kina
Kina's picture

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

Thu, 12/26/2013 - 10:31 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment gina distrusts gov
gina distrusts gov's picture

Merry commercialmass and a happy bankrupcy to all

Thu, 12/26/2013 - 13:11 | Link to Comment 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 | Link to Comment Colonel Klink
Colonel Klink's picture

I think I feel my schadenfreude acting up.

Thu, 12/26/2013 - 14:50 | Link to Comment monad
monad's picture

Arm the homeless

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