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Initial Claims Limp Lower Courtesy Of Upward Prior Revision
The now ubiquitous prior upward revision helped headlines crow of 'another' decline in initial jobless claims this week. Initial claims beat expectation of 344k with a 339k print, whis is now a drop from a previously reported 338k that is now revised up to 341k... all makes sense, right? It seems claims have stabilized somewhat after the few weeks of glitches and shutdown SNAFUs and the downtrend appears to have stalled as these levels of claims are at the same level as 5 months ago. Bear in mind this is the last print for 2013 (not first print of 2014 data) and with 1,391,297 people on Emergency benefits due to start 'tapering' this week, we can only imagine the 'glitches' that will occur going forward.
With government shutdown and software glitches, this may be the "cleanest" print we have had in months...
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Happy New Year! Here's your pink slip, now go file for unemployment.
Being unemployed will soon be counted as "working for the government".
No, no, no, far too complicated...
if you breathe, you are employed as a gardener/farmer
.... converting oxygen to CO2 so plants can convert it back again
Soon all the unemployed will no longer be counted.....at that point we shall declare victory.
Too bad there's no real work that needs to be done in this country like rebuilding bridges and crumbling roads and demolishing what's left of Detroit.
And it's a good thing we don't need high speed rail or better local public transportation.
But not to worry cause legalizing pot will put millions to work in now fashionable head shops.
And it's so nice to know that the government will always know where we are in our cars in case we get lost being stoned:
http://www.infowars.com/feds-may-require-vehicle-location-tracking-in-ne...
/sarc
Glitches Bitchez!
Happy New Year to all my ZH peeps.
2014 is going to be an interesting year!
Dears citizens of Oceania I am pleased to announce an increase in Chocolate rations to 19 grams.
May big Brother Watch over us.
Really looking forward to the "Two Minute Hate" today.
Not that they notice but you've been a little too lax with your hateful shouting lately.
Notice the long term trends folks.
http://research.stlouisfed.org/fred2/series/ICSA
We are at the bottom again. Recession ( or worse) 2 yrs or less away.
Not seasonally adjusted shows we have already come off the bottom.
http://research.stlouisfed.org/fred2/series/ICNSA
Today's data hasn't been added when I posted! but the swing off the bottom will be obvious when it is. NSA was up to 443,000. Seasonal adjustment was -100,000 ... That is way too much.
Recession ( or worse) 2yrs or less away.
You left off the word "Deepening" at the start of the sentence...
Fair enough!
The Greatest Depression started five years ago, and Black ___day is two weeks away. Where are the soup kitchens? EBT cards!!!!!
I didn't know we had left a recession, taking out the government largess.
Short jobs, long pain!
lol
All government reported numbers are ludicrous bullshit.
These 'jobless claims' comparisons are like comparing apples to golfballs
We've got a lot of balls.....how do you like those apples?
Why are my DOW futures GREEN online and RED via CNBS?
Glitch in the Matrix?
I haven't been counted in over a year.
The double whammy of cuts to extended unemployment and the middle class paying inflated rates for Obummercare (un-Affordable non-Care Act) is going to CRUSH the economy.
The deductibles alone for most working people are going from $1,200/year to $7,800/year or more.
Fewer and fewer people have career employment and wages.
The mandarins and elites can't see what's coming.
Shadowstats: Unemployment USA 23%. The best source for economic data. The data remains really bad. We are in a Depression, technically and otherwise by all measures. The government finds new ways to lie about lying.
Naa naa naa.....
I can't hear you.....I can't hear you!
gwar5, no no, some are in a deprssion, those that count are doing really well, look at DC area real estate for a hint or lower west park ave, things are great, j corzine can't decide on $1000 red or white wine.
"j corzine can't decide on $1000 red or white wine."
Oh the whore! I mean whore! Damn auto correct. I mean to say WHORE!
OK I give up. Every time I keep trying to use horror in the sentence with Corzine it auto corrects to WHORE!
Just maybe all of this "initial claims" nonsense is increasingly meaningless...more and more people are NOT in "full-time insured employment" but are instead iving precariously from temp job to temp job, part-time positions, in school, semi-retired, fullly retired, dropped out, on government payouts, living in basements, in underground economy etc., etc.
In the non-seasonally adjusted reality, initial claims jumped last week.
http://www.dol.gov/opa/media/press/eta/ui/eta20132486.htm