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1.4 Million Jobless Officially Get The Emergency Claims Axe

Tyler Durden's picture





 

Initial claims rose very marginally week over week (with the declining trend of early 2013 now over); continung claims rose more - considerably more than expectations - with its biggest 7-week rise since early 2009 to the highest in 6 months; but the major news is the drop in Emergency Unemployment Compensation beneficiaries from 1.37 million to (drum roll please) zero! Congress decision not to extend this beenfit means there are 2 million fewer people on benefits than a year ago. The 1.4 million drop also means the number of people NOT in the labor force is about to rise by the same amount, which as we explained before, means the US unemployment rate is about to drop by up to 0.8%, which means the January unemployment rate could be as low as 5.9%.

Emergency claims recipients dropped to zero...

 

As continuing claims rose by the most (over the last 7 weeks) since 2009... to the highest in six months

 

The total number of people claiming benefits in all programs for the week ending January 4 was 3,706,087, a decrease of 1,003,734 from the previous week. There were 5,659,482 persons claiming benefits in all programs in the comparable week in 2013.
 

 


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Thu, 01/23/2014 - 09:41 | Link to Comment Sudden Debt
Sudden Debt's picture

DAMNED ROBOTS!! THEY TOOOK OOOUR JOBS!

Thu, 01/23/2014 - 09:43 | Link to Comment Quinvarius
Quinvarius's picture

The Luddites were right after all.

Thu, 01/23/2014 - 09:50 | Link to Comment rehypothecator
rehypothecator's picture

Note: Due to rounding, er, moral deficiency errors, unemployment does not equal (1 - employment).  

Thu, 01/23/2014 - 09:50 | Link to Comment Gankfest
Gankfest's picture

yay!

Thu, 01/23/2014 - 09:53 | Link to Comment flacon
flacon's picture

Somebody just broke the NASDAQ. 

http://www.investing.com/indices/nq-100-futures

 

Thu, 01/23/2014 - 10:08 | Link to Comment TeamDepends
TeamDepends's picture

Dagnabbit, and it was humming along so majestically...

Thu, 01/23/2014 - 10:16 | Link to Comment aint no fortuna...
aint no fortunate son's picture

none of this matters a whit - tell me how hard the VIX gets banged and how big the POMO is today and I'll tell you where the market closes

As to the labor participation rate? Meh! That's what they have sock puppet media for - to baffle 'em with bullshit

 

Thu, 01/23/2014 - 10:38 | Link to Comment Vampyroteuthis ...
Vampyroteuthis infernalis's picture

There are lies, damn lies and there are statistics. If you don't like the numbers, manipulate them.

Thu, 01/23/2014 - 10:49 | Link to Comment synergize
synergize's picture

Now lets plot this chart against crime in the upcoming months.  No benefits = Higher Crime is my guess...

Thu, 01/23/2014 - 13:21 | Link to Comment Kobe Beef
Kobe Beef's picture

Doubt it. To qualify for Unemployment Benefits one would have had to have worked a job at some point in their lifetime.

Besides, the absolute highest correlated factor to crime is ....

 

http://www.ronunz.org/2013/07/20/race-and-crime-in-america/

HINT: It's not poverty.

Thu, 01/23/2014 - 10:17 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

 

"The Luddites were right after all."

Hmmm, I am becoming more swayed to your statement every day.

Given that, Gold becomes the "I don't want to play, pill".

Thu, 01/23/2014 - 10:49 | Link to Comment Ignatius
Ignatius's picture

Organic food and free range livestock is a growth industry and I understand that some shortages are showing up.

Goodbye Yellow Brick Road and back to the land.  HH, give us a photo accompaniment.

Thu, 01/23/2014 - 11:08 | Link to Comment PeeramidIdeologies
PeeramidIdeologies's picture

I've come across empty fuel tanks at a couple of gas stations on the east coast as well. Mind you, it has been damn cold and dark quite often this winter.

No more extentend claims! Alright! Double net benefit!! Reduction of the deficit, lazy asses can no longer sit and pretend there is no work to be done.

Thu, 01/23/2014 - 12:32 | Link to Comment zaphod42
zaphod42's picture

If you are being serious, that would be a job offer I just read.  I know a few people who will accept.

If there are no jobs, and no other way to feed themselves, there are a few things that those million plus could be doing, and many of them are not legal.  John Dillinger was a fully employed person back in the day.  Sort of in the banking industry, in a way.  Almost like modern banksters.

Craig 

Thu, 01/23/2014 - 14:45 | Link to Comment PeeramidIdeologies
PeeramidIdeologies's picture

It is. Just the other day I was considering the possibilities of a plug and play rocket mass heater. I personally don't have much experience in the design and patent realm but would gladly invest personal resources in the project.

I also recommend those who are looking for work take a moment and recognize the stock of their personalized skill set. Everyone has a personal niche, the sooner it's identified the sooner you can get paid.

Ah yes Dillinger. Comparing him to modern banking procedures seems a little bass~akwards to me. I'm sure your familiar with his stance towards both TPTB and towards those whom the banks wealth was derived from. One could even argue his economic policies were in line with Austrian thought.

Thu, 01/23/2014 - 11:08 | Link to Comment tmosley
tmosley's picture

No, they weren't and no they aren't.  Robots are supplying goods and services that otherwise WOULDN'T GET MADE because our economy has collapsed.  Automation has merely hidden some portion of the collapse from our eyes.

Without the current trend in automation, goods would simply be far more expensive, and we would see some of that inflation that the Fed has been producing.

Thu, 01/23/2014 - 11:18 | Link to Comment PeeramidIdeologies
PeeramidIdeologies's picture

No no, robots create jobs. They also increase available leisure time. Their cool metallic exteriors decrease the amount of energy released into the atmosphere which reduces the effect of warm active bodies on our de-stabilizing climate.

The robots will save us!!

Thu, 01/23/2014 - 12:32 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

I guess they're all fucked* now. 

* "The F Word": http://www.ebaumsworld.com/audio/play/961/

Thu, 01/23/2014 - 14:48 | Link to Comment PeeramidIdeologies
PeeramidIdeologies's picture

Apparently I'm not "updated" enough to watch the video, but to clarify the record, I would fight a robot.

Thu, 01/23/2014 - 12:18 | Link to Comment J 457
J 457's picture

I'd like to see charts of 1) Workforce participation rate since 2008 2) # Unemployed since 2008 3) Increase in # disability claims since 2008.  That would be more telling.  I suspect many falling off the extended UI rolls will now flock to the disability line.  

Thu, 01/23/2014 - 15:26 | Link to Comment Againstthelie
Againstthelie's picture

A wonderful day for all libertarians. Doug Casey, Schiff and all Austrians are celebrating! Evil state must perish and the money masters controlling and their "market" will solve everything.

Thu, 01/23/2014 - 09:42 | Link to Comment Bearwagon
Bearwagon's picture

So 1.37 million more constantly disabled People, right? This can only end very well ...... very, very ...

Thu, 01/23/2014 - 11:25 | Link to Comment Greenskeeper_Carl
Greenskeeper_Carl's picture

Yep. Also not counted in the labor force anymore. Your move, federal reserve. Either remove QE since the unemployment rate is way down, or admit all the numbers you use are bullshit

Thu, 01/23/2014 - 09:42 | Link to Comment buzzsaw99
buzzsaw99's picture

no moar funemployment of any kind! [/dean vernon wormer]

Thu, 01/23/2014 - 09:59 | Link to Comment Divided States ...
Divided States of America's picture

About time these SLACKers of the ECONOMY finally get off their arses and either find a REAL JOB or find a BANKER to beat up.

Thu, 01/23/2014 - 10:04 | Link to Comment TeamDepends
TeamDepends's picture

Blowjob!

Thu, 01/23/2014 - 13:37 | Link to Comment atomp
atomp's picture

What's with the -'s? Need moar animal house fans 'round here.

Thu, 01/23/2014 - 10:09 | Link to Comment SilverDOG
SilverDOG's picture

  buzzsaw99

 

 

There will not be.

 

We ALL are upon the U.S.S. Edmund Fitzgerald.  http://www.youtube.com/watch?v=adZiVjXFfKk

 

At seven PM a main hatchway caved in, he said

"Fellas it's been good to know ya"

 

 

Thu, 01/23/2014 - 09:42 | Link to Comment Sudden Debt
Sudden Debt's picture

.

 

We love you as a individual so much... that we excluded you from the mainstream stats.

Greetings,

Your beloved Government

Thu, 01/23/2014 - 09:53 | Link to Comment Xibalba
Xibalba's picture

NO HEAT?  NO FOOD?  NO WORRIES!!  

Thu, 01/23/2014 - 09:44 | Link to Comment Colonel Klink
Colonel Klink's picture

Looks like they can now withdraw the taper and start raising rates because unemployment is set to drop below 6.5%!

#WINNING

Thu, 01/23/2014 - 13:07 | Link to Comment Meat Hammer
Meat Hammer's picture

Klink, it looks like we'll finally get to see the destination at the confluence of all of the lies from Bernankme, when they can no longer say QE is about employment.

It reminds me of a great Anton Chigurh quote: If the rule you followed brought you to this, of what use was the rule?

Thu, 01/23/2014 - 09:44 | Link to Comment Bastiat
Bastiat's picture

Smells like recovery!

Thu, 01/23/2014 - 10:11 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Well, let's see.  1,400,000 people times ~$350 per week times 52 weeks equals a cool $25+ billion dollars that won't be getting spent to support the "recovery".  Is that significant?  I really don't know anymore. 

Thu, 01/23/2014 - 10:52 | Link to Comment Max Cynical
Max Cynical's picture

But Nancy Pelosi says that unemployment benefits stimulate the economy...

"Unemployment benefits are creating jobs faster than practically any other program", House Speaker Nancy Pelosi said Thursday.

"Unemployment insurance, the economists tell us, return $2 for every $1 that is put out there for unemployment"

House Minority Leader Nancy Pelosi (D-Calif.) said that extending unemployment benefits would add “600,000 jobs to our economy.”

She also said that the money from unemployment benefits creates a “safety net” for the U.S. economy because it “injects demand into the economy -- creating jobs.”

Thu, 01/23/2014 - 11:00 | Link to Comment Colonel Klink
Colonel Klink's picture

By that theory we should fire everyone and the eCONomy will... BOOM!

Thu, 01/23/2014 - 12:23 | Link to Comment Erus Unius
Erus Unius's picture

I think a good argument could be made that the monies do in fact go back into the economy. I.e., food, rent, bills. It does go to support the local economy where its applied.

 

I do not think a argument could be made that the ROI is $2 for every $1 spent. I just don't see it.

Thu, 01/23/2014 - 11:27 | Link to Comment Greenskeeper_Carl
Greenskeeper_Carl's picture

"25 billion not being spent, is that significant? "
It's about a week worth of QE, so no, I'd say its pretty insignificant

Thu, 01/23/2014 - 13:04 | Link to Comment MarsInScorpio
MarsInScorpio's picture

Greens

 

The difference is that the $25-billion is going into the Main St. businesses, as opposed to the .01%.

 

Considering that no significant amount of the QE is going to Main St., that $25-billion going to Main Street is highly significant.

 

If the QE was also going to Main St., there would actually be a recovery.

 

But the object here is the looting of the nation by the klepto oligarchs. Thus the QE goes to them, and Main St. continues to collapse.

-30-

 

Thu, 01/23/2014 - 13:35 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Smells like recovery!

Your illuminating choice of words has led me to a startling insight. Now I know why the word "recovery" is used in reference to the economy.

Immediately following a natural disaster (e.g., earthquake, tornado, hurricane), the first phase of response is called rescue. When enough time has passed to make it likely that no more victims will be found alive, the rescue then becomes a search for corpses, euphemistically referred to as recovery efforts.

Hold your nose, it smells like recovery.

Thu, 01/23/2014 - 09:45 | Link to Comment Sudden Debt
Sudden Debt's picture

And now Obama can relax after bringing unemployment down... and go golfing...

JOB DONE! UP TO THE NEXT!!!

https://s3-eu-west-1.amazonaws.com/expomatch/upload/16048.JPG

 

Thu, 01/23/2014 - 09:46 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Winning!  Forward!  Hope!  Change!  Sarc!

Thu, 01/23/2014 - 10:14 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

QE taper unemployment target rate a success the lie must be maintained at all costs. When the history books are written on this chapter this little detail will be left out about the labor force participation rate as all good history propaganda books are written by the victors to justify the victors values and policies.

Occam's razor, PHD morons rigging the numbers so the next generation of PHD morons will hold current generation in reverence for their monetary policies in the text books at the same PHD moron factories. They just will conveniently leave out the slight of hand trick as the real reason in the books.

The long term is the game here. In 50  - 100 years when we are all dead and the lessons of why paper ponzi's fractional reserving always fail along with the personal pain ingrained into the collective consciousness after it crashes; They need to justify all this as a success for the next generation or 2 of money changers to set up the same scam again. You can revise the history as the current generation dies off and the collective memory fades. The pain part will be blamed on politics aka the resurgance of Marxism not money when all is said and done. This scam is alot more nuanced than people realize...

The cycle begins anew.

Thu, 01/23/2014 - 10:32 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

The government is not going to cut these 1.4 million people loose from the entitlement corn. They are just going to be reshuffled into other entitlement programs when all is said and done to keep them from rioting. Think money to retrain for new a career in trade schools/college in the form of loans/grants. It is simple account tricks in a ledger while distracting the crowd by getting them to focus on you while the misdirection is being done.

Thu, 01/23/2014 - 11:07 | Link to Comment Colonel Klink
Colonel Klink's picture

Until the old adage comes into play.  When people have nothing left to lose, they lose it.  Only way it will matter is if their ire is directed at the political and corporate class.

Thu, 01/23/2014 - 11:44 | Link to Comment cossack55
cossack55's picture

WV Crazy Checks

Thu, 01/23/2014 - 11:32 | Link to Comment Greenskeeper_Carl
Greenskeeper_Carl's picture

History is written by the winners. That's why, to this day, FDR is still viewed as having saved us from an even greater depression. Same will be said about Obama and bernanke. Sure things were bad, but they would have been so much worse had these selfless heros not done what they had done. That's how the story will be told, unfortunately.

Thu, 01/23/2014 - 13:26 | Link to Comment Kobe Beef
Kobe Beef's picture

The History of the 20th Century was written by the Tavistock Institute, aka Minitru.

Thu, 01/23/2014 - 09:47 | Link to Comment ifishivote
ifishivote's picture

I love that our govt will now count them as being employed!  This should also cause the Participation rate to plunge.

Thu, 01/23/2014 - 09:49 | Link to Comment Bastiat
Bastiat's picture

They are already not participating, so it should have no effect on that number.

Thu, 01/23/2014 - 10:02 | Link to Comment new game
new game's picture

i am guess a certain 1/3, will go get a job, vacation over.  well, the other 2/3 will have to lose a hundred pounds, set their standards very low so as to NOT be disapointed and most important, fake-up that resume to a standard of acceptance...

Thu, 01/23/2014 - 09:48 | Link to Comment Bastiat
Bastiat's picture

Seriously, the next hack who stands in front of a camera and quotes the unemployment rate should have to duck a shoe.

Thu, 01/23/2014 - 12:49 | Link to Comment Dave Thomas
Dave Thomas's picture

I was listening to NPR by accident and the nasaly erudite commenters were talking about how the BLS record keeping is out of date and not staying with the times. I.E. Not tracking the new trends in employment. One of the talking heads said that they worked for a month, then spent a month walking in the woods. And the old crotchity BLS considers this kind of lapse in working uemployment. I had to try with every fiber of my being from directing my truck into the nearest brick wall. 

Thu, 01/23/2014 - 13:28 | Link to Comment Kobe Beef
Kobe Beef's picture

But think of all the bricklayers that would have been employed had you crashed. I think Krugman wrote a dissertation on it...

Thu, 01/23/2014 - 14:57 | Link to Comment Ranger_Will
Ranger_Will's picture

Just a shoe? How about some .30cal hot lead?

Thu, 01/23/2014 - 09:49 | Link to Comment Smegley Wanxalot
Smegley Wanxalot's picture

This is one "drop" in the official unemployment stat that I fully support.  Let's face it ... extention for fukkin 99 weeks?  Fuck that shit.  Cut them off and either they starve, find some job, or try to rip me off and I can kill them.  Am sick of leeches of all type, be they politicians, elitist fucks, or my lazy fellow shitizens.

Thu, 01/23/2014 - 09:51 | Link to Comment Bastiat
Bastiat's picture

yeah if they wanted an indefinite lifeline they should have started banks.

Thu, 01/23/2014 - 10:08 | Link to Comment toady
toady's picture

Starting a bank isn't as easy as it sounds. I've been trying to start one ever since I found out that they get their money for nothing and their chicks for free.

Turns out you need to know a guy who knows a guy...

Thu, 01/23/2014 - 10:01 | Link to Comment corporatewhore
corporatewhore's picture

I hope that you could walk in their shoes if you have never been there.

Thu, 01/23/2014 - 10:05 | Link to Comment new game
new game's picture

wore those shoes more than once! also wore them out looking for and finding a fucking job.

did you comprend. i didn't even consider a fucking handout...

Thu, 01/23/2014 - 10:15 | Link to Comment corporatewhore
corporatewhore's picture

i have done the same and i have complete sympathy for those finding themselves in this economy trying to find a job.  I agree with you if they're ripping off benefits but I think the vast majority are not.

fuck loses all shock value when used every other word.  the fucking english language is fucking rich with fucking colorful adjectives.

Thu, 01/23/2014 - 11:10 | Link to Comment bigkahuna
bigkahuna's picture

My suburban "highly educated" neighbor got canned - sat around for a few months, found another job and quit on the first day so they would not report any earnings for him, then sat around his house on the dole for a year and a half. If you cannot find a job in 3-4 months tops, thats it - apply to mcdonalds and go to night school. These long term unemployed are losers. Too bad.

No symathy here.

Thu, 01/23/2014 - 11:50 | Link to Comment corporatewhore
corporatewhore's picture

i'm sure everyone has anecdotes about ripping off the system. 

Try being over age 50 and getting the ax.  You ain't gonna find no stinkin job like you had before.  That is the reality.  Luckily I figured it out after I exhausted all my contacts still working in my industry.  And that was in 2008.  It hasn't improved.  I work 3 jobs and over 80 hours per week dealing with arrogant, still-employed, higher than mighty people who look down on those unemployed.  I am truly grateful I found work but I don't begrudge those getting unemployment benefits.  Someone just needs to clue them in that they will have to make huge, downward moves in their lifestyle and that isn't easy to do.  They'll have to cope with depression, a lack of self worth, and most likely losing everything and filing bankruptcy and enjoying foreclosure.  It isn't pretty but it's survival in 2014.

 

Thu, 01/23/2014 - 12:54 | Link to Comment bigkahuna
bigkahuna's picture

4 months is all it should take to re-evaluate the situation. Then it is time to swallow the nasty pill of ruined self worth and over inflated ego and dust ones self off - and return to positive direction. Anyone can accomplish this at any age.

I am not saying take away the unemployment all together, what I AM saying is that our fellow Americans are not liable for people who cannot see fit to check in their egos, or their slovenliness and get back to handling THEIR own responsibilities. 6 months is more than enough. 99 weeks is BS.

I have to put up with this and people want charity? I can no longer tell the difference between a true charity case and someone who wants their ego subsidized. Why should I subsidize anyones overinflated ego while they throw a 99 week pity party? Screw that - we do what real Americans do and have always done - get up, rebuild, and be smarter next time. It is morally screwed up for people to even think they can be unemployed for 99 weeks unless they are independantly wealthy or perhaps retired, then they don't need "unemployment".

Thu, 01/23/2014 - 13:07 | Link to Comment corporatewhore
corporatewhore's picture

I understand your point of view and the Horatio Alger that should be in all of us.  Nonetheless, many find themselves in a depression and not all have the ability to pick themselves up and do what needs to be done.  The depression only gets worse with time and dealing with rejection.  You kid yourself if you don't think this economy just beats you up and tears your self esteem to pieces.  Many can't deal with it.  After 99 weeks the financial suicide you will need to commit will have to be done.

In addition, unemployment benefit payout is literally awful.

Thu, 01/23/2014 - 13:32 | Link to Comment Kobe Beef
Kobe Beef's picture

Nothing beats depression like rolling out of bed and doing push-ups til you can't breathe. Might not help your job situation, but your mind will respond to changes in your body.

Thu, 01/23/2014 - 13:07 | Link to Comment corporatewhore
corporatewhore's picture

I understand your point of view and the Horatio Alger that should be in all of us.  Nonetheless, many find themselves in a depression and not all have the ability to pick themselves up and do what needs to be done.  The depression only gets worse with time and dealing with rejection.  You kid yourself if you don't think this economy just beats you up and tears your self esteem to pieces.  Many can't deal with it.  After 99 weeks the financial suicide you will need to commit will have to be done.

In addition, unemployment benefit payout is literally awful.

Thu, 01/23/2014 - 11:56 | Link to Comment swmnguy
swmnguy's picture

Obscenity is the crutch of inarticulate fuckers.

Thu, 01/23/2014 - 13:19 | Link to Comment fxrxexexdxoxmx
fxrxexexdxoxmx's picture

WTF are you talking about?

Thu, 01/23/2014 - 12:05 | Link to Comment SilverRhino
SilverRhino's picture

When you are out of a job, FINDING a job becomes your new 40 hour / week endeavor.     Network, apply, hit the bricks and FIND one. 

Your other 20 hours / week you can spend analyzing industries and determining the best skill set required.   And then start developing it. 

 

Thu, 01/23/2014 - 10:25 | Link to Comment Savyindallas
Savyindallas's picture

I hope you get the chance to kill them  -millions of these people were former middle class gun owners  - they may lose their homes, but they will never give up their guns. maybe when they come to your house to look for a handout or to rummage through your trash bin, you'll find out these lazy shitizens are fully prepared to defend themselves when you attempt to "kill' them.

Thu, 01/23/2014 - 10:34 | Link to Comment corporatewhore
corporatewhore's picture

Kindly repeat your response using the word "fuck" every other word in either noun, pronoun, verb or adjective.  Maybe someone will then understand your point.

Thu, 01/23/2014 - 12:11 | Link to Comment swmnguy
swmnguy's picture

From the unCyclopedia:

"Fuck fucking fucked fucker fucking fuckups fuck fucking fucked fucking fuckup fucking fucker's fucking fuckup." is a grammatically correct sentence first said by Lewis Black which can often be used as an example of how homonyms and homophones can be used to create complicated constructs.

Thu, 01/23/2014 - 12:23 | Link to Comment corporatewhore
corporatewhore's picture

For a minute I thought I was listening to Dave Matthews.  Makes me wanna dance

Thu, 01/23/2014 - 11:39 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

99 weeks?  I know guys who got whacked last year and collected only 26+3 weeks, i.e. 26 weeks UI (for which they PAID into the insurance pool from having worked several years) and a mind-blowing 3 weeks Emergency UI till year end.

I hope you get shit-canned, you arrogant, self-righteous ass.

Thu, 01/23/2014 - 12:06 | Link to Comment Loose Caboose
Loose Caboose's picture

Next destination for the Karma Bus - Smegley Wanxalot. 

Thu, 01/23/2014 - 09:49 | Link to Comment blabam
blabam's picture

Bullish? 

Thu, 01/23/2014 - 09:49 | Link to Comment bearwinkle
bearwinkle's picture

I feel a great disturbance in the (work)Force. As if millions of voices suddenly cried out in terror, and were suddenly silenced.

Thu, 01/23/2014 - 10:36 | Link to Comment halfawake
halfawake's picture

your avatar creeps me out

Thu, 01/23/2014 - 09:49 | Link to Comment youngman
youngman's picture

I bet those people that lost their freebies are being directed to some other government program for other freebies and will get them with a wink and a nod...you can bet disability insurance applications will skyrocket....these people think they deserve this free money

Thu, 01/23/2014 - 09:56 | Link to Comment jtz5
jtz5's picture

Yes, watch for disability claims to rise by the same.

Thu, 01/23/2014 - 10:06 | Link to Comment ebworthen
ebworthen's picture

That's a great idea, and considering the banking/insurance/coroporate parasites and .gov bailouts and QE I do indeed deserve it.

Thu, 01/23/2014 - 10:15 | Link to Comment Seasmoke
Seasmoke's picture

Perhaps. But it's a 2-3 year ordeal to get approval. Hope they can hang on until then.

Thu, 01/23/2014 - 10:38 | Link to Comment bobert
bobert's picture

No Seasmoke, it's 2-3 weeks in the state where I reside.

Thu, 01/23/2014 - 13:17 | Link to Comment RobD
RobD's picture

Seems to depend on location. My sister has been trying to get approval for almost a year. She lives in Northern California. I hear that here in Northern Nevada it is even longer. Also you have to get a lawyer otherwise it just gets denied. Once you get a lawyer it is almost a done deal, just takes a while so that the back pay builds up allowing you to pay the lawyer. The lawyers are scamming the system more then the freeloaders.

Thu, 01/23/2014 - 14:08 | Link to Comment Kobe Beef
Kobe Beef's picture

And eventually that lawyer enters the metastatic phase commonly known as "politician". Bigger offices, bigger scams.

Thu, 01/23/2014 - 09:50 | Link to Comment B2u
B2u's picture

McDonald's and Walmart are hiring....

Thu, 01/23/2014 - 09:52 | Link to Comment Bastiat
Bastiat's picture

When it comes to survival, watch crime rates and suicides.

Thu, 01/23/2014 - 09:52 | Link to Comment ebworthen
ebworthen's picture

Employment is better and the war on poverty being won!

In other news; peace in the Middle East and cancer cured!

Thu, 01/23/2014 - 19:27 | Link to Comment ebworthen
ebworthen's picture

Hey, cool stuff, thanks.

They should use unbleached coffee filters though to avoid any dioxins.

Thu, 01/23/2014 - 09:52 | Link to Comment Dr. Engali
Dr. Engali's picture

You are now an un-person citizen. Have a nice day.

Thu, 01/23/2014 - 10:00 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Let them eat cake!!!  (It remains to be seen whether or not these people who have stopped building things will start building guillotines)

 

Thu, 01/23/2014 - 11:42 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

"If you see something, say something", with a spin... 

If you know of one of these people, direct them to ZH.  I do.

Thu, 01/23/2014 - 10:02 | Link to Comment the not so migh...
the not so mighty maximiza's picture

YAAAEEEEE!!!! we did it

Thu, 01/23/2014 - 10:03 | Link to Comment esum
esum's picture

once your benefits run out..... you are officially no longer unemployed

tell that to the 32% of the workforce without full time yobs... 

my neighbor has 3 yobs and his neighbor has 5 yobs... my neighbor across the street is a slacker... he only has 1 yob, he's a brain surgeon

Thu, 01/23/2014 - 10:24 | Link to Comment Azannoth
Azannoth's picture

That guy should immideatly get a rocket-scientist position at NASA, than .. he could officialy call him self a rocket-surgeon 

Thu, 01/23/2014 - 10:39 | Link to Comment WhyWait
WhyWait's picture

That is commonly believed, but not strictly true.  The Household Survey asks questions to determine who is working or actively looking for work.  The "headline rate", U3, includes only people who have looked for a job in the past four weeks.  It excludes anyone who has never held a job, is taking even one college class,  is receiving even a very small pension, has put in even an hour of work on a family farm or business, or who is working part time even if they are looking for full time work.  Thus if someone loses their benefits and drop their weekly job search, they drop off U-3 in a month.

The much-less widely reported U-6 rate includes all the categories dropped from U-3, including "discouraged workers" who have applied for a job in the past year and report they would again if they thought they could find one.  That rate - currently 13.1% - should drop more slowly.

John Williams' SGS Alternative Unemployment Rate, which estimates the number of long-term discouraged workers - presumably using the Labor Force Participation Rate and Employment/Population Ratio, with a model fitted to the statistics the Household Survey used to collect before 1994 - is up to 23.2%. This is a good match to what we think we are seeing here in a small New England city. It is unlikely to be affected by the end of the Federal Extensions.    

Thu, 01/23/2014 - 10:48 | Link to Comment WhyWait
WhyWait's picture

"John Williams' SGS Alternative Unemployment Rate, which estimates the number of long-term discouraged workers" and adds this to the U-6 rate.  www.shadowstats.com 

Thu, 01/23/2014 - 10:57 | Link to Comment Max Cynical
Max Cynical's picture
Wall Street adviser: Actual unemployment is 37.2%, 'misery index' worst in 40 years

http://washingtonexaminer.com/wall-street-advisor-actual-unemployment-is-37.2-misery-index-worst-in-40-years/article/2542604

Thu, 01/23/2014 - 10:05 | Link to Comment replaceme
replaceme's picture

I am dying to hear the first news report on this and the sudden, unexpected drop in the UE rate.  Bullish. 

Seriously, Orwell was a piker compared to the reality of the 21st century.

Thu, 01/23/2014 - 10:06 | Link to Comment WhyWait
WhyWait's picture

People don't just drop out of the labor market, they drop off the ladder.  Step by step they lose the ability to maintain ourselves in a state of readiness to work. The home, the car, the wife or husband, cable access, the cell phone line, the computer, one by one they drop away.  The wardrobe deteriorates or pieces get left behind.  Health care, diet, appearance deteriorates.  Teeth are a big problem.  You can get to a health clinic with luck and effort, but the only free dental care is extractions. Once your teeth go you're marked.  And then personal hygiene goes.  It's hard to keep it up when you're feeling hopeless and ashamed of yourself, sleeping on a courch, a shelter or your car.

Being told there's plenty of work if you're just willing to take it is like a kick in the teeth to the many who aren't even getting those jobs.

I honestly don't know what people are going to do. It amazes me that there is so little fight-back in them.  But millions are just giving up.  None of them believe those phony unemployment figures - but it's a problem that the politicians, the administrators, directors and policy-makers of all the systems and structures that help keep them alive or are charged with helping them get back in the game do believe them, and widely believe that the answer is education, skills, attitudes and training. 

 

 

Thu, 01/23/2014 - 10:28 | Link to Comment MSimon
MSimon's picture

 

 

Teeth are a big problem.  You can get to a health clinic with luck and effort, but the only free dental care is extractions. Once your teeth go you're marked.

 

^^^^^^^^^^^^^^^^^^^^^^^^^^^^ This.

Thu, 01/23/2014 - 11:17 | Link to Comment Eugend66
Eugend66's picture

Sad but filled with true comment! +1

Thu, 01/23/2014 - 10:09 | Link to Comment Its_the_economy...
Its_the_economy_stupid's picture

it may be time to oil the hardware

Thu, 01/23/2014 - 10:12 | Link to Comment loonyleft
loonyleft's picture

1.4million claim x ???? ($1500) per month = 2.1 billion? Is that right, or approx 25billion per year.

QE 85 BILLION  per month. That money gets taken from every current and future American and holder of American currency and debt. It isn't created out of thin air. 

Not saying it's right, and there are likely a lot of people taking advantage of the extended benefits, but there are a lot that aren't 

1 month QE = 3+ years of extended unemployment. 

Keep your eye on the ball. 

Thu, 01/23/2014 - 10:21 | Link to Comment yogibear
yogibear's picture

More demand for Obama phones, EBTs, cocial security disability and welfare.

The Free Stuff Army becomes the majority while the Fed buys more than 50% of the US debt.

Thu, 01/23/2014 - 10:21 | Link to Comment hotrod
hotrod's picture

I think 5% is considered full employment because that percentage equates to the short term unemployed just between jobs.  So we are almost at full employment   Hooray.

Now, I am college  educated, 52, worked for major corps such as 3m, Bristol Myers and Dupont.  I have been trying to find a healthcare related sales position for 5 months and have even applied to many other sales positions outside healthcare with only one interview.  There is no way our unemployment is  this low. that number is so offensive to all of us actively looking for a job with no response.  I even appllied to ORKIN for pest contract sales and have never heard back. Certain jobs I apply for say upfront that due to the huge response we may not acknowlege  your application.  The reported unemployment rate is about as ridiculous as China saying gold reserves have not changed. 

Thu, 01/23/2014 - 11:21 | Link to Comment insanelysane
insanelysane's picture

Shhhhhh!  The msm has been reporting that help wanted/job openings are at an all time high.  The nail that sticks up will be hammered down in place.

Thu, 01/23/2014 - 12:15 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

The magic trick is the companies posting those jobs have no intentions of hiring for most of the positions and for skewing data for statistical purposes. They are also resume trawling (for unreported data collection for real internal statistical measurements that are not rigged, like how many discouraged workers are actually looking for jobs and refusing to be wards of the state). Pay close attention to who is posting the jobs. They are in the Federal free money government contract conveyor belt. Illusion of choice when you find out those smaller firms are owned by bigger firms who have large amounts of government contracts. Central planning's tentacles extends well into the 'private sector'.

Federal contracts are nothing more than Marxist corn to kill off Capitalism and force dependency on the state as they set up the walls of the cage trap........

 

Thu, 01/23/2014 - 11:49 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

You're 52, the next candidate is 32.  Probably with legs up to her neck.  Questions? 

/ Now, of only a gender change were free.  Then you could get hired under the anti-discrimination laws against the LGBT crowd.  Ask for a free Pigment Enhancement (for the trendy Mulatto/Sade look), just to get extra 'points'.  You don't think HR works on a point system?  Think again, gullible sheep. / sarc

Thu, 01/23/2014 - 16:51 | Link to Comment corporatewhore
corporatewhore's picture

I do not want you to take my words harshly but the reality is that you are over 50.  Being over 50 means to the corporate world that you are a diseased (or likely diseased) expense to the bottom line, can't be taught new tricks, technologically old  and untrainable, and although you may have been successful (even highly successful) that was then and this is now.  In order to hire you and have you accept the job, corporate would have to pay twice or three times what they could pay for a young whippersnapper.

You have several alternatives to choose from:  give up and go on welfare, snap, unemployment for 99 weeks etc.; start your own business (highly recommended although you may starve for a few years getting it off the ground); or continue to send out applications for which you will never get a response because you have crossed the magical age of 50.

I have been in your shoes.  I am now over the retirement age.  I cobbled together 3 customer service jobs and have lost everything as I experienced this "recovery".  It isn't.  I am starting my own business as I drop one of the jobs and use the other two to live on.

Get creative.  Don't expect anything from corporate America.  You owe it to yourself.

Thu, 01/23/2014 - 10:24 | Link to Comment kridkrid
kridkrid's picture

Anyone interested in creating a list of the most and the least absurd economic statistics with a quick reason why? Add to each other's reasons where you see fit. I'll write it up.
Most absurd -
Unemployment Rate - For the reasons clearly stated in this article, the unemployment rate magically improves the worse things get. It's not magic really, but those who roll off the unemployment dole, the least employable of our citizenry, don't count as unemployed.

GDP - So much wrong, so little time. For starters, the delta is measured in dollars. More on that below (CPI). Government spending is a part of GDP (it actually dominates GDP at nearly 40%). That number has been steadily increasing since just after WWII and is nearly equal to the % during the war to save the world from fascism (snicker). The other component on a steady rise, financial services. Starting around 2% in 1945, financial services now accounts for more than 8% of GDP. Financial services is a cost of doing business, not production, but it's included in the measurement.

Inflation (CPI) - Of course, CPI isn't really "inflation", but it's presented that way. CPI is manipulated lower because payments tied to CPI must remain lower. You need not look any further than food and energy being absent from CPI to realize just how flawed the measurement is. The justification for dropping these items, volatility. I sure wish the price at the pump were volatile... but it's been pretty consistently over $3/gallon for a LONG time. Doesn't seem so volatile to me.

Good data:
BDI - Baltic Dry Index. The number pretty much is what it is - The cost to transport raw materials by sea. Like GDP, the number is measured in dollars, so fluctuations there could add to the story somewhat, but when economist claim we are in recovery, you need look no further than a cratering BDI to get the real story.

Labor Force Participate Rate - It has to be only a matter of time before the BLS stops measuring this, yes? This tells the story that the unemployment rate doesn't, but doesn't get nearly the attention. Why? Harder to fudge.

Thu, 01/23/2014 - 10:32 | Link to Comment loonyleft
loonyleft's picture

up voted but........... we know. 

Thu, 01/23/2014 - 10:47 | Link to Comment kridkrid
kridkrid's picture

I know we all know... I'm just trying to crowdsource a comprehensive list.

Thu, 01/23/2014 - 10:53 | Link to Comment loonyleft
loonyleft's picture

already posted before and not my joke, but nails GDP.

 

 

Keynes and Krugman are walking. Keynes says, "I'll pay you $5,000 to eat a dog turd." Krugman does it. Keynes doesn't have any evil savings and didn't think Krugman would do it: The next day he begs for the money back. Krugman says, "I'll give it back if you eat a turd." Keynes does it. Krugman says, "That was stupid: No one made money and we've both eaten sh*t." Keynes says: "But we boosted GDP by $10,000." - Teal

Thu, 01/23/2014 - 12:14 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Hence the saying:  "Figures lie, and liars do a lot of figuring".

The most accomplished liars get awards from the Swedish central bank (Sveriges Riksbank), aka "Nobel Prize in Economics".

Thu, 01/23/2014 - 10:41 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

It has been nice to live during part of America's wonder years.

Bye bye

Thu, 01/23/2014 - 10:33 | Link to Comment 22winmag
22winmag's picture

You know what this means?

 

Stocks ramp, PM's dive, and that coffee colored asshole in the White House gets on T.V. again with more "uh's" than Ted Kennedy could shake a stick at. Now, back to polishing the brass on the Titanic.

Thu, 01/23/2014 - 10:37 | Link to Comment Rising Sun
Rising Sun's picture

We'll be fighting in the streets
With our children at our feet
And the morals that they worship will be gone
And the men who spurred us on
Sit in judgment of all wrong
They decide and the shotgun sings the song

 

The Who, 1971

 

The more things change, the more they stay the same.

Thu, 01/23/2014 - 11:53 | Link to Comment Clycntct
Clycntct's picture

Constant Vigilance is the lesson.

Thu, 01/23/2014 - 10:36 | Link to Comment strangeglove
strangeglove's picture

Who ordered 1.4 Million MOAR HollowPoints?

Thu, 01/23/2014 - 10:47 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

But seriously, why is there NO main stream media calling the complete bullshit on this?  No one?

As I've been saying on here over a year....TeeVee is your mortal enemy...turn it off, FOREVER.

Pitchforks, torches and guillotines should all be mandatory issue.  

Thu, 01/23/2014 - 11:14 | Link to Comment IridiumRebel
IridiumRebel's picture

The media should be held accountable when the barbarians rush the gate. 

Thu, 01/23/2014 - 11:21 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

Yes!  First in line. 

Fox, actually, for being the great decepticons they are, posing as 'right wing' all the while belittling those who disagree with the official story line (ron paul, those that support snowden, etc).  

Thu, 01/23/2014 - 11:27 | Link to Comment insanelysane
insanelysane's picture

"TeeVee is your mortal enemy...turn it off"

I tried to shut it off but it told me no.

Thu, 01/23/2014 - 14:42 | Link to Comment Bastiat
Bastiat's picture

Must be one of those smart ones.

Thu, 01/23/2014 - 10:54 | Link to Comment viator
viator's picture

Soon there will be no one working and the unemployment rate will be zero!

Thu, 01/23/2014 - 10:55 | Link to Comment Zymurguy
Zymurguy's picture

Oh yeah!  This is gonna do wonders for the unemployment rate!!!

It won't be long and this administration can boast the lowest unemployment rate in centuries!!!

FORWARD SOVIET!!!

Thu, 01/23/2014 - 11:02 | Link to Comment rsnoble
rsnoble's picture

Let's see........many of you that bitch about the imploding jobs situation and then turn around and tell these millions to go get jobs. LMAO. 

You're looking at major societal disentegration I'm so happy you seem to think it's a good thing.

The only possible good thing is that all the dumbasses might possibly start seeing how screwed up things really are.

There's more of an uproar over this paltry $25billion that keeps many well deserved families together than there is over the 100billion plus the FED sinks into the banksters just because you can't stand to see someone not working like you.  Pretty fucking narrow-minded.

Once again this is just one more step to a shit-society and you're promoting it.  Everyone here already knows the US debt can't and won't ever be paid back.  So let's let millions starve and we can divert those savings, which don't really exist, to go kill millions more overseas somewhere and the defense contractors can get even more rich off your fucking stupidity.

Be careful what you wish for dumbasses.

Thu, 01/23/2014 - 11:08 | Link to Comment rsnoble
rsnoble's picture

On the other hand do I think it's right to pay people to sit at home forever? No.

However.........this just marks one more step in the collapse of the US that will do nothing but benefit people in high places and gives Lord Obama the right to prance around with his Hitler-like rant of lies telling the rest of the poens how things have improved meanwhile everything is fly apart at the seams.

Good luck.

Thu, 01/23/2014 - 11:09 | Link to Comment IridiumRebel
IridiumRebel's picture

you are talking to yourself again....

Thu, 01/23/2014 - 11:15 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

"Talk to yourself and you'll hear what you want to know."  - Aerosmith

Thu, 01/23/2014 - 11:37 | Link to Comment rsnoble
rsnoble's picture

I'll take that over listening to everyone else's lies and half-beliefs anyday.

Thu, 01/23/2014 - 11:39 | Link to Comment rsnoble
rsnoble's picture

Those of you that are preaching 'go get a job' also obviously believe that there is a recovery in the US.

This flies in the face of what is discussed here on ZH on a daily basis.

Therefore by that logic you are the purest form of human scum(not to mention hypocrit)......and what this really amounts to is that you are still a barbarian and enjoy the pain and suffering of others while you've been lucky enough to have avoided the situation.   Spare me the 'you've worked hard story' many of these people in the sinking ship worked hard too.  A large number of you are as bad as the politicians.

None of you have a leg to stand on, you are pathetic and vile and precisely the reason the human race is doomed as a whole because stupidity rules the day.

Thu, 01/23/2014 - 13:21 | Link to Comment Thunderbox
Thunderbox's picture

settle down Francis

Thu, 01/23/2014 - 11:44 | Link to Comment JayKitsap
JayKitsap's picture

Wow the Genius of Penn Ave has gotten us to full employment (under 6%), his Jobs Council should be knighted.  Now if only they were full time jobs - but he managed to cut everyones hours to 75%, they have more time to campagin for OFA.  Their key is to give everyone a raise!

 

Why do we need emergency unemployment if everyone is working!!!

Time to Galt away

Thu, 01/23/2014 - 11:48 | Link to Comment Clycntct
Clycntct's picture

There's Lies and then there is employment stats.

Thu, 01/23/2014 - 12:04 | Link to Comment denverdolomte
denverdolomte's picture

So I've seen a lot of posts on here about people on unemployment or as some call it "funemployment", and we must enjoy the free benefits and lifestyle of sucking off of the system. So I have some questions for you all ::

Can you please explain to me where the jobs are? Since the 50+ jobs I apply to weekly that I never hear any type of response from, beyond to occasional call from a recruiter to do a phone interview which turns into nothing. 

OHHHH right I must be going for jobs way outside my abilities right? If that is so, then seasonal help for Target must need PhD level applicants that speak more than fluent English? 

I must just not have the experience right? Being only 30 and having only been in the "work force" for only 7 years how does one garner 10+ years experience for an entry level gig? 

SO before the age of 30 I even opened up my own sales firm which has been decimated by the economy, again must just be because I am fucking lazy like the rest of the FSA right? 

 

Thu, 01/23/2014 - 12:29 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

You don't get the FSA benefits because, if you're applying for all these jobs, you don't fit the FSA profile.

The FSA benefits are to keep certain "demographic segments" (is that PC enough?), to keep them from rioting, looting/BE.  It turns out that many "single mothers" have their "husbands" or "significant other" doing time in jail, and these 'single mothers' get Sec.8 rent (state-paid rent) and food stamps.  Note that both the mother-fokker, and the mother & kid(s) have a state-sponsored lifestyle.  You?  Not so much.

/ IOW: Yo, honky bro, you be demographically incorrect. /sarc

Thu, 01/23/2014 - 12:39 | Link to Comment denverdolomte
denverdolomte's picture

I understand that side. This subject sometimes hits a rough nerve with me and I hold it close to heart. I am definitely not in that dermographic (spelling error was intentional). But damn I sure would like to find where this "recovery" is and then shoot it in the face because if this is recovery I envy despairity. 

Thu, 01/23/2014 - 13:50 | Link to Comment Kobe Beef
Kobe Beef's picture

I hear you. Try making your own job. It's not the easiest road to hoe, but you can do something you love. Or leave the country on some sort of contract work. If you're not married or tied down in some other way, make the most of it. Or stay in the USSA and use your free time to get ready for Civil War II; it's coming.

Thu, 01/23/2014 - 13:57 | Link to Comment denverdolomte
denverdolomte's picture

I've recently gotten into "gardening" here in Colorado, also been compiling research to help as an analytical consultant to the "gardening" industry in regards to this new industry's metrics and trajectory into 2015 and how this will help/effect new state legislation nation wide. Beyond my husky I am in no way attached and have been looking at options for out of the country things, Iceland seems to have the easiest legislation to emmigrate too. 

Thu, 01/23/2014 - 14:02 | Link to Comment Kobe Beef
Kobe Beef's picture

Right on, getting out of the house is always a good thing. If you stay local, volunteer associations often have local businessmen or their wives involved. They often have an eye for talent, so any work you do to expand your network and reputation can often help in unexpectd ways. Good luck! Stay strong!

Thu, 01/23/2014 - 15:57 | Link to Comment 813kml
813kml's picture

Don't leave Colorado!!!  You are at the epicenter of the green gold rush and there should be a million opportunites for a smart young man interested in "gardening" the recently approved cash crop.  You may have to move within Colorado but don't leave the state.  It might be too late to open your own dispensary as I imagine the market is saturated, but there are many industry offshoots where you won't be dealing with stoners all day.

Off the top of my head, I would look into CBD oil that has been shown effective in the treatment of seizures and other medical problems.  People from around the country are moving to Colorado in order to get treatments legally.  I can see a huge demand in the future as word gets out, you can cash in while getting the warm fuzzies from helping people and fucking the Fed gov't at the same time.

Most people only dream about the opportunities that are literally outside your front door.

Thu, 01/23/2014 - 15:13 | Link to Comment 813kml
813kml's picture

This might sound trite, but it's all about networking.  Good jobs are almost entirely about who you know, otherwise the resumes you submit wind up in the virtual circular file.  Just make sure you network in the right circles if you wish for something beyond Target or Walmart.

It might sound calculating, but think of networking as the pre-interview.  The hiring process is as much about weeding out assholes and nutjobs as finding the person with the right skills.  By socializing with members of the industry you wish to be a part of you are fighting half the battle.  The people you network with don't even have to be decision-makers, even underlings can get your resume under the proper eyeballs.

Even being an asshole or nutjob doesn't disqualify you from networking, just fake it till you make it.

Thu, 01/23/2014 - 13:03 | Link to Comment dexter_morgan
dexter_morgan's picture

The recovery marches FORWARD. GO GO FSA

Thu, 01/23/2014 - 13:26 | Link to Comment Spungo
Spungo's picture

We should send robots to Mexico to steal their jobs.

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