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Initial Jobless Claims Flat At 8-Month Average

Tyler Durden's picture




 

Initial jobless claims fell 20k from a previously revised up 351k (the highest in a month) and hovers at the the average level of the last eight months as the downward trend in this apparently key indicator has broken. The BLS cites nothing unusual in this report aside from Kansas estimated its numbers (so we have no real way of deciphering signal from noise once again). Continung claims rose a modest 15k seasonally-adjusted (and less modest 44k non-adjusted) as emergency benefits remains at 0.

 

 

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Thu, 02/06/2014 - 09:45 | 4407451 GetZeeGold
GetZeeGold's picture

 

 

All hail the flat recovery!

 

When the Obamacare job losses kick in....we should really see some acceleration.

 

Oh....and amnesty.....don't forget about that!

Thu, 02/06/2014 - 09:46 | 4407466 B2u
Thu, 02/06/2014 - 12:56 | 4408053 WarriorClass
Thu, 02/06/2014 - 09:48 | 4407472 knukles
knukles's picture

Oh, you betcha!

All them new fucking citizens with no jobs.
How they gonna be accounted for in the unemployed, underemployed, welfare rolls, gubamint handouts, special dispensations of love and largesse.

The only metric they're gonna show up in is the Registered Democratic Voter Headcount.

Thu, 02/06/2014 - 09:55 | 4407496 GetZeeGold
GetZeeGold's picture

 

 

So you're saying that would be bad?

 

Huh....never made the connection.

Thu, 02/06/2014 - 10:15 | 4407560 forwardho
forwardho's picture

I thought the was the express purpose of our gov?

It must be very rewarding to be needed by so many, one of those feelings money can't buy.

Thu, 02/06/2014 - 10:02 | 4407507 Winston of Oceania
Winston of Oceania's picture

Maybe we're supposed to "inhale" the recovery?

Thu, 02/06/2014 - 10:12 | 4407539 IridiumRebel
IridiumRebel's picture

Forward Bloviate!

Thu, 02/06/2014 - 10:49 | 4407627 The Dunce
The Dunce's picture

I asked my poor old mother if there was any hope.  She kicked me in the nuts and called me a retard.  Times are tough.

Thu, 02/06/2014 - 13:34 | 4408157 SDShack
SDShack's picture

Just look at the graph in the article. The unemployment claims trend bottomed, then started reversing and getting worse beginning in August 2013. That's when employers started planning for 0zer0care implementation. The same thing will happen this year times 10 because the employer mandate goes into effect this year. The shitstorm coming from 0zer0care starting this summer is going to be epic. That's when employers will get their double digit rate increases from the insurance providers because 0zer0care has obliterated the risk pools. For employers it will be absorb the cost, pass it on to their employees, or cut HC benefits completely. Every option is a bad one for the economy. The decisions will come in early October to meet the 60 day WARN notification for benefit changes to employees... just before the 2014 elections. The dumbcrats have no idea what is going to happen to them unless the repukes save them with amnesty.

Thu, 02/06/2014 - 09:43 | 4407452 Pool Shark
Pool Shark's picture

 

 

Unit labor costs dropped 1.6%;  the most since November 2011.

 

Deflation anyone?

 

Thu, 02/06/2014 - 09:48 | 4407464 Dr. Engali
Dr. Engali's picture

More people are being dropped to part time thanks to Zerocare. Bullish.

Thu, 02/06/2014 - 09:51 | 4407479 knukles
knukles's picture

The modern world was always promised to be one of little work and humongous free time for the arts, reading, educational pursuits, intellectual challenges and social enhancements.

Rejoice!  The future is here, now!

Thu, 02/06/2014 - 09:53 | 4407485 NoDebt
NoDebt's picture

Right, because that's what most people do with their free time.  

The real message: free timeto sit on your ass, do drugs, shop online and watch porn.

Thu, 02/06/2014 - 10:11 | 4407540 negative rates
negative rates's picture

May the hangman wake you up and place a tiny dancer in your head.

Thu, 02/06/2014 - 10:13 | 4407546 toady
toady's picture

We've finally reached nirvana!

Thu, 02/06/2014 - 11:35 | 4407763 lotsoffun
lotsoffun's picture

kardashians for me, and the 350 pound gorillas that are fcking them.

Thu, 02/06/2014 - 09:49 | 4407455 Kaiser Sousa
Kaiser Sousa's picture

bullish!

countdown to Silver and Gold phony paper price declines in 3, 2, 1.....

Thu, 02/06/2014 - 09:47 | 4407463 youngman
youngman's picture

They must have been out shoveling snow....

Thu, 02/06/2014 - 09:50 | 4407465 Smegley Wanxalot
Smegley Wanxalot's picture

Jobless claims are like a 3 inch dick.  You keep telling whatever chick is dumb enough to date you "yeah, but it was 2 inches last week" and she says "no it wasn't, it was 4" and you say "yeah, but I'm revising that number so now it's improved."

Thu, 02/06/2014 - 09:53 | 4407484 knukles
knukles's picture

Brought to you by the Bureau of Love Statistics

Thu, 02/06/2014 - 09:48 | 4407468 R-502
R-502's picture

Why is anyone paying attention to these charts anymore. They've already been proven to be shit....and nobody trusts them except for the government.

Thu, 02/06/2014 - 10:09 | 4407531 forwardho
forwardho's picture

I was going to make the same comment.

While It is a report that affects the market. It uses obvious propaganda to do so. Everyone knows the BLS #'s are BS, yet they are quoted by every media outlet as the "truth"

We are living in a mass consentual fantasy.

Thu, 02/06/2014 - 10:43 | 4407619 Greenskeeper_Carl
Greenskeeper_Carl's picture

Pretty sure the govt knows they are meaningless too. I'd change that to read the only people that believe them are the media and the morons who still believe the MSM

Thu, 02/06/2014 - 09:47 | 4407470 buzzsaw99
buzzsaw99's picture

cnbc will be going topless before long. they look ridiculous and pathetic.

Thu, 02/06/2014 - 10:06 | 4407476 GetZeeGold
GetZeeGold's picture

 

 

Well....technically it is cable.....I would think the FCC hands would be tied.

Thu, 02/06/2014 - 09:51 | 4407480 NoDebt
NoDebt's picture

One giant advertisement for the sell-side pump-fest.

Thu, 02/06/2014 - 11:34 | 4407759 lotsoffun
lotsoffun's picture

but the money honey left??  guess she didn't want to be part of that /s?

Thu, 02/06/2014 - 09:50 | 4407474 Son of Loki
Son of Loki's picture

(Reuters) - Sony Corp (6758.T), under pressure to shore up profitability in its electronics business, unveiled a restructuring plan on Thursday that will cut 5,000 jobs and trim 100 billion yen ($988 million) a year from fixed costs, while splitting off its loss-making PC and TV units.

 

http://www.reuters.com/article/2014/02/06/us-sony-results-restructuring-...

Thu, 02/06/2014 - 09:52 | 4407481 youngman
youngman's picture

yeah..I just heard that on my Walkman

Thu, 02/06/2014 - 10:02 | 4407514 Winston of Oceania
Winston of Oceania's picture

Really it's about time they did something, would have been easier to do it twenty years ago when they should have.

Thu, 02/06/2014 - 09:51 | 4407478 toady
toady's picture

Even after all those folks were dropped when it wasn't extended.

Thu, 02/06/2014 - 09:51 | 4407483 i_call_you_my_base
i_call_you_my_base's picture

Those people would not fall under "initial claims".

Thu, 02/06/2014 - 10:06 | 4407526 toady
toady's picture

I just have a hard time with unemployment numbers. The actually numbers are always bogus & revised up later, with much less fanfare.

Then there's the initial claims, continued claims, wholly manufactured claims, mutilated claims ....

It's just ridiculous.

Thu, 02/06/2014 - 09:53 | 4407491 Tsar Pointless
Tsar Pointless's picture

Gallup's P2P drops to 42% in January.

http://mam.econoday.com/byshoweventfull.asp?fid=462637&cust=mam&year=201...

Lowest since March 2011.

Gallup's seasonally adjusted U.S. unemployment rate for January, using an estimate of the government's likely adjustment factor, is 8.0 percent, up from 7.6 percent in December.

Underemployment, as measured without seasonal adjustment, was 18.6 percent in January, up from 17.2 percent in December, and up from 17.5 percent in January 2013.

Bullish.

Thu, 02/06/2014 - 10:05 | 4407517 papaswamp
papaswamp's picture

Love Gallup's. The BLS tends to lag a bit so middle of the month for gallup trends abit closer. Either way we 'should' see a rise in unemployment.... But the biggy will be participation rate. I'm expecting a big drop ( not seasonally adjusted).

Thu, 02/06/2014 - 13:45 | 4408212 Firehawk734
Firehawk734's picture

What I thought was 'awesome' was when i looked in the bloomberg report for the Initial claims, whomever wrote the comments said that this is the first 'clean' look at initial claims.  LOL.  Really?  Why, because they went down?  If you check old weekly reports you will find an excuse in every one of them when the numbers go up.

Priceless.

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