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Initial Jobless Claims Drop To 4-Month Lows

Tyler Durden's picture




 

Initial jobless claims dropped 10k this week to 311k - the lowest in 4 months - offering little bad-news-is-good-news hope for renewed un-tapering to pump stocks back up. Illinois, New York, and Pennsylvania (all weather-related) saw the biggest drops in claims in the prior week. Continuing claims also fell 53k to 2.82 million, its lowest in 3 months.

 

 

Charts: Bloomberg

 

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Thu, 03/27/2014 - 08:39 | 4597947 RevRex
RevRex's picture

And the Labor Force Participation rate dropped to what?

Thu, 03/27/2014 - 09:00 | 4598017 ebworthen
ebworthen's picture

63%:  http://data.bls.gov/generated_files/graphics/latest_numbers_LNS11300000_2004_2014_all_period_M02_data.gif

Lowest in 35 years, but remember, the recession ended (*cough*).

Thu, 03/27/2014 - 09:06 | 4598036 Headbanger
Headbanger's picture

MOAR TAPER YOU MOOKS!

Because the Federal Reserve has to save their ass now!

Thu, 03/27/2014 - 09:09 | 4598044 negative rates
negative rates's picture

If the devil has a chance to save his soul or save his hide, which does he always choose?

Answer is, that he always chooses to save his hide.

Thu, 03/27/2014 - 09:10 | 4598054 Secede Or Die
Secede Or Die's picture

In other news....311,000 people arrived at the local welfare office this week to get free money that was stolen by thuggery of the IRS from hard working people, so called "taxpayers".

Secede or die.

Thu, 03/27/2014 - 09:13 | 4598064 Sudden Debt
Sudden Debt's picture

they didn't steal it. They printed it at the FED and the future only has to pay it back with interest....

or just pay interest on it... nobody expects it to be paid back anyway.

Thu, 03/27/2014 - 08:41 | 4597959 lunaticfringe
lunaticfringe's picture

Meanwhile in other news, gold continues to drop this morning. Let's hope another country hasn't asked for theirs back.

Thu, 03/27/2014 - 08:50 | 4597984 firstdivision
firstdivision's picture

Well eventually we run out of people to layoff.

Thu, 03/27/2014 - 09:09 | 4598046 Headbanger
Headbanger's picture

That's probably the only reason why new claims are dropping.

There's no jobs.

 

Thu, 03/27/2014 - 09:33 | 4598120 insanelysane
insanelysane's picture

We are at a new normal employment rate.  It is stabilizing at the moment.  No change expected until the Government decides to "fix" things again and the number of unemployed increase.

Thu, 03/27/2014 - 13:26 | 4599241 Dollarmedes
Dollarmedes's picture

Nah, man. Didn't you hear about all those jobs that are being created? Green shootz, bitchez!

Thu, 03/27/2014 - 08:56 | 4598004 ebworthen
ebworthen's picture

Again, you can't be counted as jobless if you already filed.

And after 12 months or so, you don't exist.

Except for Medicare and EBT.

Where are those at? 

EBT:  http://www.dailyyonder.com/files/imagecache/story_default/imagefield/Fig-03.png

Medicare:  http://pbs.twimg.com/media/BjGvAaxIgAABQ29.png:medium

(links open in new window/tab)

Thu, 03/27/2014 - 09:09 | 4598047 miker
miker's picture

I think things have shifted a bit.  I believe it is very possible that Obama and all have issued directives to falisfy the reporting under the premise of national security. 

Unfortunately for them, they can't control all numbers or forms of reporting.  Only the federal government ones.  Look at dailyjobcuts.com.  There has been an signficant increase in layoffs, closings.  I mean hundreds/thousands of jobs.  And it doesn't capture all the small businesses that quietly fold. 

The reason for this now blatant deception is that the Fed has to unwind QE.  I believe they were given an ultimatum.  Not sure exactly who.  May have been the Saudis.  May have been the BRICs.  May have been the Pentagon.  But they are unwinding and will continue to unwind to zero and the official stats will continue to look like everything is ok....all for cover.  Everything is NOT ok.

We are witnessing the emergence of Great Depression II.

Thu, 03/27/2014 - 09:10 | 4598050 TideFighter
TideFighter's picture

I had to go to a local Social Security office to get a quick card. Once I was inside, my first impression was that I had arrived in a third-world country. I had come in the front door, but out the side door were hundreds of people in line filing for medicaid and disability. Many had a three-piece suit lawyer standing next to them. All around that office location were attorneys that filed all-day, non-stop claims. Social Security representatives barked the next number from behind 24 windows. On the way out, I heard the security guard tell another that their new "facility", 4 times the size, will be open in May. Damn.   

Thu, 03/27/2014 - 09:20 | 4598084 Secede Or Die
Secede Or Die's picture

Damn is right. Get out (secede, withdraw) of the system with all your might. Or, bury your head in sand and just keep doing the same thing....you surely shall not die.

Thu, 03/27/2014 - 09:36 | 4598133 insanelysane
insanelysane's picture

Secession will not work.  I think Plan B will be to get a group together, buy a part of Mexico or part of some other country in Central America or an island in the Carribean and just start a new country.  Plan C would be to finance a coup and take over Cuba.

Thu, 03/27/2014 - 09:25 | 4598093 Billy Sol Estes
Billy Sol Estes's picture

This matters so much.

Does anyone believe that the Bureau of Liars and Shysters under any administration will paint anything but a rosey picture for the doting public?

Thu, 03/27/2014 - 09:40 | 4598131 yogibear
yogibear's picture

Move from unemployed to Social Security disability.

Even our former politicians are collecting gov disability. 

Oh, Jesse Jackson, Jesse Jackson Jr,,,,

He collects gov disabikity for 1 year,

 

Convicted Congressman Jesse Jackson Jr. (D-IL) is scheduled to 

receive $8,700 per month in government disability pay, as well 

as a partial federal pension of $45,000. That generous $8,700 

in disability comes thanks to Jackson's sudden development of 

a "mood disorder" as the federal government began looking to 

indict him. 

Thu, 03/27/2014 - 09:52 | 4598190 user2011
user2011's picture

No worry... just check for the revised figure next time. All these numbers are just bullshit. The more real number is the revised one.

Thu, 03/27/2014 - 11:04 | 4598461 kenezen
kenezen's picture

Surely we know that Middle Class, a certain percentage of citizens, are now at historic lows. The wealthy have moved most valuables in currency and other paper wealth out of the country into off-shore repositories. We know that that underclass is more unemployed and underemployed than at anytime since or perhaps before the great depression hence the massive social payments being made.

We know that because of overpowering federal government restrictions and "Agency Hostility;" new Industrial factories hiring tens of thousands has moved back to the Americas! Unfortunately, they went largely to Mexico where the GDP is flying higher because they will hire and America will not allow it. We, (Our Federal Gov.), is hostile to industrial MFG. which remains at the lowest percentage of employment of all (Citizens), hired, perhaps in our history.

Our private sector wages have not evolved equally to others since the early 1970's when those wages and pension flattened. That's proven when compared to federal government wages and pension that have remained healthy and continue to grow.

"Private Sector Wages and Pension" has remained at averages of $61,051 as of 2009 as compared to "Federal Employee Sector Wages and Pension" of $123,049 in 2009. We'll guess which has remained static and which has continued to go higher from 2009 until now as "Both" should in a good economy.

We know this is not just the fault of this current president! However, he has exacerbated it badly by keeping "Heavy Industry" out to an even more extreme degree and allowing it continue to go elsewhere. Hence, the continued and accelerated loss of middle class!

His introduction of more central government does not help! Both "Political Parties" have taken care of their own and ignored the calamity of the "Middle Class Private Sector! It must end or we will become economically "Socialistic" much like the Soviet Union that self destructed. This President is not correcting this, he's, like the last president, making it far worse!

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