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Initial Jobless Claims Jump Most In 4 Months, Continuing Claims At Best Since 2007

Tyler Durden's picture




 

Initial jobless claims surged from 304k to 329k this week, the biggest weekly rise since mid-December. From exuberance at new cycle lows, we swing to the average of the last 8 months. This is the biggest miss to expectations in over 2 months. Continuing Claims dropped further to new cycle lows at 2.68 million (beating expectations) - its lowest since Dec 2007. So this is as good as it gets for continuing claims - America is back at its best!

Initial claims surges back up to its average of the last 8 months...

 

As continuing claims plunges to new cycle lows not seen since Dec 2007 - as good as it gets

 

Charts: Bloomberg

 

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Thu, 04/24/2014 - 08:52 | 4689995 Obchelli
Obchelli's picture

Magical, no matter what this market is not going down... Now durable goods beat just exactly when they need it.

Thu, 04/24/2014 - 08:44 | 4690002 SlipStitchPass
SlipStitchPass's picture

Gold $800.00 ....because fail.

Thu, 04/24/2014 - 09:43 | 4690279 LawsofPhysics
LawsofPhysics's picture

Optimist.  But I would love to buy at under $300 an ounce (again)...

Thu, 04/24/2014 - 08:45 | 4690003 B2u
B2u's picture

Why should we count people who cannot find jobs.   Numbers  look great if we ignore the unemployed who cannot find jobs.

Thu, 04/24/2014 - 08:48 | 4690016 Sudden Debt
Sudden Debt's picture

correction:

unemployed who don't want to look for jobs because they're to rich

Thu, 04/24/2014 - 08:57 | 4690054 replaceme
replaceme's picture

I hear them referred to as retired boomers a lot.  Livin' the dream on food stamps and disability.

Thu, 04/24/2014 - 11:05 | 4690662 insanelysane
insanelysane's picture

If people whose unemployment benefits expired are not counted as unemployed, how do people that retired get counted as unemployed?

Thu, 04/24/2014 - 08:59 | 4690055 kridkrid
kridkrid's picture

It's like I took a whole bottle of crazy pills. GDP going up... but because it's measured in dollars. When my grocery bill is twice what it was 2 years ago, that helps to nudge GDP up. My income hasn't increased, and my takehome has decreased as my health premiums have increased (also a bump for GDP), yet we are to buy, "while the recovery may not be robust, the economy is growing". Employment numbers improve, for the very reason you state... how this isn't talked about non-stop, I don't know. The jobs that are gone are NEVER coming back and GDP will continue to nudge forward as everything I have to buy will grow 10x's the rate of my income (if I can keep my job). crazy.

Thu, 04/24/2014 - 08:49 | 4690004 buzzsaw99
buzzsaw99's picture

unemployment is good for wall street, good for the stock market, and good for bonuses, and those are the only things anyone cares about.

Thu, 04/24/2014 - 08:56 | 4690046 kaiserhoff
kaiserhoff's picture

You forgot Poetry, Buzz.

The unemployed have plenty of time to devote to poetry.   So say our masters.

Thu, 04/24/2014 - 10:48 | 4690588 Handful of Dust
Handful of Dust's picture

Soldier in battle to rid home of squatters, Florida sheriff’s office says it can’t do anything

Soldier Michael Sharkey was deployed to Afghanistan two years ago and asked a friend to watch over his house in New Port Richey, Florida. Sharkey never thought that he would have to fight a battle to save his home from ex-convict squatters.

http://news.yahoo.com/blogs/oddnews/soldier-in-battle-to-rid-home-of-squ...

Thu, 04/24/2014 - 08:46 | 4690005 GubbermintWorker
GubbermintWorker's picture

Didn't the Senate just pass another federal unemployment benefit extension? So fear not, the continuing claims shall rise again!!

Thu, 04/24/2014 - 08:47 | 4690009 ArkansasAngie
ArkansasAngie's picture

I try very hard to be a good steward.  

I gotta tell you though, I'm getting really tired of working my arse off while others are spoon fed my money.

Screw'em

Thu, 04/24/2014 - 09:13 | 4690025 LawsofPhysics
LawsofPhysics's picture

"while others are spoon fed my money." -  Why would you be feeding your gold and silver to people?

That is pretty fucking stupid.

Remember Angie, when fraud is the status quo possession is the law.

Thu, 04/24/2014 - 08:51 | 4690028 negative rates
negative rates's picture

It's worse than that, people are being paid to design and make junk. Then they wonder where the claim is to take away their pensions, retirement and unfunded commitments. It's a done dealeo dear.

Thu, 04/24/2014 - 08:56 | 4690049 BandGap
BandGap's picture

Thank you very much.

Due to a divorce and having to demonstrate to my ex-wife's lawyer that I do indeed need a reduction in child support, I have had to review my earning for the past 25 years.

I made 2.51 million dollars in that time frame, and roughly averaged 150K per year the last ten years of my marriage to her.

Figure the taxes, social security and Medicare I have paid. I'm guessing it's about half, say 1.25 million. Now I can't find a job, hence the request for reduction. The cherry on top is I will probably get dick for my personal social security, despite being one of those much despised "baby-boomers". So after 25 years of pretty good earnings, working my way up the ladder, I find myself looking at a job in 1.) Poland and 2.) India while you work your arse off helping poor people like me out (I did not down arrow you, however. I understand your perspective).

Thanks again and - Ain't life grand?

Thu, 04/24/2014 - 09:08 | 4690093 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Never get married and always pull out...life is easier, much easier.

Thu, 04/24/2014 - 09:20 | 4690184 BandGap
BandGap's picture

Remarried, now with six kids. Life isn't supposed to be easy, and I find it absolutely exhilerating. I wouldn't change a thing if I could.

Thu, 04/24/2014 - 09:21 | 4690165 LawsofPhysics
LawsofPhysics's picture

America has become a land of "laws" optimised for "takers" not makers.  Your divorce story is very common.  I know at least one very intelligent engineer who has taken his talent to South America and he is living huge.  The best part is Brazil does not recoginize any of the "legal" bullshit decreed by the American courts. he takes damn good care of his kids, on his turns (and they will now speak another language).  I know another busness owner going through a divorce, he is trying to open another brewery (and employ even more people), but his lazy "give me what I deserve" wife may put a stop to that as well...

 

 

Thu, 04/24/2014 - 09:37 | 4690264 BandGap
BandGap's picture

The ex's greed is unbridled. I was her enabler.

Thu, 04/24/2014 - 09:44 | 4690287 LawsofPhysics
LawsofPhysics's picture

Like you, I have a big family, but we are all on the same page so to speak.  If we all don't work, we don't eat.

(FYI- "speaking" and communicating is the key)

Thu, 04/24/2014 - 09:00 | 4690059 kaiserhoff
kaiserhoff's picture

I feel your pain, Angie, but unemployment goes to those who work when they can.

The permanent welfare class is busy turning food into shit, at our expense.

That has to end.

Thu, 04/24/2014 - 08:47 | 4690011 Sudden Debt
Sudden Debt's picture

America should build more workcamps so Yellens FULL EMPLOYMENT goal is to be reached within a year!!!

Thu, 04/24/2014 - 08:49 | 4690018 Ignatius
Ignatius's picture

Go long on prisons.

Thu, 04/24/2014 - 08:48 | 4690013 ...out of space
...out of space's picture

of course jobless claims rise coz businnes close the door, and continuing clams go down coz people drop out of work force. its a trend

 

Thu, 04/24/2014 - 08:50 | 4690021 Obama_4_Dictator
Obama_4_Dictator's picture

Allhard working Americans should just quit.  We can end this so fast.

Thu, 04/24/2014 - 08:50 | 4690022 Peter Pan
Peter Pan's picture

I guess that overly large prison population, overly large number of defence personnel and that huge number of people on invalid pensions are not part of the clculation. Nor should we concern ourselves ith people who lose $50k jobs and replace them with $20k jobs.

Congratulations America, I guess Yellen need not print and need not supress interest rates or continue to have such a big balance sheet.

Thu, 04/24/2014 - 08:51 | 4690031 Ban KKiller
Ban KKiller's picture

Weather? Too nice to look for work.

Tune in, turn on and drop out....as best you can. OR organize a revolt. 

Thu, 04/24/2014 - 08:52 | 4690033 Handful of Dust
Handful of Dust's picture

Who needs a job when they can drive their Catapillar tractor up and down the street all day impressing the other unemployeds?

Thu, 04/24/2014 - 08:52 | 4690034 RaceToTheBottom
RaceToTheBottom's picture

Nobody talks about debased Accounting any moer.  Did that all get undebased?

Thu, 04/24/2014 - 09:57 | 4690362 therearetoomany...
therearetoomanyidiots's picture

I want to grow up to be, be a debase-r.  -Frank Black

Thu, 04/24/2014 - 08:54 | 4690037 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

what does the continuing claims going down figure mean?

Thu, 04/24/2014 - 09:29 | 4690219 CHX
CHX's picture

an ever DECREASING work force

Thu, 04/24/2014 - 09:41 | 4690271 voltaic
voltaic's picture

Continuing claims reduction is because there are no more than 26 weeks of unemployment beneifts. 72,000 a week drop from the continuing claims rolls because of the maximum weeks is capped at 26 for all unemployed. It's like celebrating food stamp usage decreasing because the food stamp program ended. 

Thu, 04/24/2014 - 09:45 | 4690289 Son of Loki
Son of Loki's picture

"Summa a rekovry!"

Thu, 04/24/2014 - 10:09 | 4690427 Hohum
Hohum's picture

About 30K fewer year over year.  No disaster yet, just muddling through.

Thu, 04/24/2014 - 11:23 | 4690725 CoastalCowboy
CoastalCowboy's picture

I just had a friend lose his job last week due to his employer losing a large sum of money when a company they did some work for declared bankruptcy, and they got screwed on payment after sinking a lot of cash into materials and labor.

I also know his employer personally, and he would lose money on jobs just to keep his guys working so for him to have done this shows how extreme his situation must be.

Another friend of many years had to move back home with her mother, because her husband lost his job 8 months ago. That is more than 26 weeks according to my calculations. The guy has work ethic out the wazoo and can find nothing so we've accounted for at least one "improvement" in continuing claims from my little world.

The fact that the average time to land a job is triple what it is in normal times cuts through all the bullshit the MSM/Government propaganda complex spews like a hot knife through butter.

On a side note, one of my client's executives told me that they are using my services less due to the impact of Obamacare on their company. At least I know it's not personal, but that does not help me pay for my free Obamacare.

For any of you MFs that voted for "hope and change" and have not recanted, I hope you like taking it w/o lube. This line is for the bitch I saw the other day with a bumper sticker that read:

"Voted for Obama in 2012 and still standing proudly with him". The sticker looked new too

Thu, 04/24/2014 - 12:28 | 4691033 Save_America1st
Save_America1st's picture

it's still snowing somewhere, and then there was that landslide somewhere too...oh, and I heard it's supposed to rain too!!!  Tough all around when mother nature just won't help you to get off your fucking ass to apply for a job instead of applying for your 48th month of unemployment, EBT, and obammy-phone bennies. 

The Free-Shit Army (FSA) is now the biggest union in the world, bitchez...

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