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Initial Claims Beat; Drop To Lowest Since November
On the heels of last week's surprise beat in jobless claims (amid all the weather turmoil), this week's initial claims beat by the most since November. Down 9,000 to 315,000, this is the best (lowest) claims data in over three-and-a-half months providing the Fed cover to continue Tapering as the number of people of benefits rolls overall dropped 48,000 to 2.86 million (lowest since December). In the big picture the trend of decreasing layoffs has stalled but shows no sign of improvement in the last 6 months.
Charts: Bloomberg
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Snow, baby, all about the Snow
Workforce participation numbers to follow.
Tapered
Running out of people to fire.
Who's eligible for unemployment anymore?
The new unemployment insurance is called Social Security disability. It pays more and you get medicare to boot.
Bingo!
Think of it as a set of stairs. We have hit a step and the companies are sitting there waiting to see if the new normal requires no change, fewer workers, or more workers. To me it seems we are on a spiral down so this is just a pause and then on to fewer workers.
good news, bad news, real news, fake news, no news - it don't matter
the ponzi is all that matters, and that aint stopping anytime soon...
If anyone hasn't gotten the memo, in the wake of some of the most dismal economic data (U.S. & Global) since 2009, the FED WILL TAPER DOWN TO $0, because its balance sheet is already of a size and duration that is early guaranteed to burn their credibility when it is all, eventually wound down, at a dramatic loss - hopefully for the Fed, when it's far enough into the future that memories of their total failure have faded to some degree.
I think there will be some retail workers added in the near future....as stores close.....the high utility bills will take their tolls too
Don't fucking care. Seats filled is meaningless.
"SHOW ME THE AGGREGATE INCOME!" - That One Black Rookie played by Cuba Gooding Jr From That One Movie About Football Agents
Where's the heart needle doctor, the patient is defibrilating..
This is bad news for people who love bad news.
Chart is clear proof that weekly claims in the last 12 months are completely manipulated.
Once the US dollar crashes employers will have a real tough time finding anyone. How many foreign workers want to work in Mexico?
When the Peso crashed you had people exiting Mexico to find jobs and make a living.
The Federal Reserve and Wall Street hasn't thought that far ahead. Enjoy it while it's good because reverse immigration is already starting.
The tide has turned as people are finding other sources of income outside of working. In my area this is evident in service sector jobs: Retail chains and fastfood, help wanted signs are everywhere. Also another trend that is becomming more evident for those still interested in working, is working from home. I was talking with one employer who could not find a bookkeeper to come into his place of bussines to work. He told me all the applications HR had received for the position were only willing to work from home. I told him that was not surprising since it is more efficent for the person to work from home. That saves them time and money. His response: Deer in the head lights, he did not know what to say. I thought that was interesting because his company while growing is very cost sensititve, but when the opportunity arose for him to see the other side-Employee's cost, he was blind. I don't know how all of this play's into the big picture, but something for employers to think about?
There are fewer and fewer people left to lay off. Makes sense. Doesn't mean anything about the economy getting any better.
When does the BLS release the inevitable "revision"?