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Initial Claims Drop But Alaska & New Jersey Remain Top Of "Insured Unemployed" List

Tyler Durden's picture




 

The total number of people claiming benefits in all programs for the week ending April 19 was 2,832,693, an increase of 10,353 from the previous week (on an unadjusted basis) but the headlines will gloat of the drop in initial claims after last week's rather disturbing spike (which temporarily destroyed the pent-up demand post-weather meme). Initial claims dropped 26k to 319k, beating expectations. New York and Massachusetts saw the largest increase in claims while Michigan and New Jersey the largest drop.

 

The highest insured unemployment rates in the week ending April 19 were in Alaska (4.9), New Jersey (3.5), Connecticut (3.4), Puerto Rico (3.3), California (3.2), Illinois (3.0), Pennsylvania (3.0), Nevada (2.9), Maine (2.6), and Michigan (2.6).

 

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Thu, 05/08/2014 - 08:54 | 4739268 SilverIsKing
SilverIsKing's picture

When nobody has a job, the initial claims number will drop to zero. I believe that is the goal.

Thu, 05/08/2014 - 08:54 | 4739283 Headbanger
Thu, 05/08/2014 - 08:57 | 4739293 OC Sure
OC Sure's picture

73 sooner or later.

Thu, 05/08/2014 - 09:06 | 4739327 Bill of Rights
Thu, 05/08/2014 - 11:09 | 4739829 666
666's picture

I will not sleep until NJ makes it to the numero uno position!

Thu, 05/08/2014 - 08:55 | 4739285 GetZeeGold
GetZeeGold's picture

 

 

Losing a 29.5 hr/wk job does not qualify you for unemployment.

Thu, 05/08/2014 - 09:02 | 4739310 Headbanger
Headbanger's picture

That's a fantastic point for the Tylers to follow up on!!

What are the numbers for laid off part time workers and do they figure into claims?

 

Thu, 05/08/2014 - 10:51 | 4739744 Never One Roach
Never One Roach's picture

No wonder highways and malls are so crowded at 2pm ... no one is working!

Thu, 05/08/2014 - 09:20 | 4739387 10mm
10mm's picture

Yep, and muricans will stare at the tee vee and believe those numbers and think it's for real.

Thu, 05/08/2014 - 08:50 | 4739273 PlusTic
PlusTic's picture

these hedge funds continue to short treasuries into every economic release...these fukks still don't get it...economics shmeeconomics!

Thu, 05/08/2014 - 08:51 | 4739274 Wm the Shrubber
Wm the Shrubber's picture

As expected, CNBS heralds the dramatic improvement as a harbinger of further recovery.  I have now deleted the CNBS bookmark from my web browser.  What a complete waste of spectrum!

Thu, 05/08/2014 - 08:56 | 4739291 Eyeroller
Eyeroller's picture

Buy sheeple, buy!

Thu, 05/08/2014 - 08:52 | 4739279 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Gold getting wacked as usual.....same old shit different day in the asylum.

Thu, 05/08/2014 - 08:54 | 4739282 Winston Churchill
Winston Churchill's picture

DXY just broke support.

Thu, 05/08/2014 - 09:01 | 4739297 fonzannoon
fonzannoon's picture

"Wow. Draghi's comments about comfort in acting next time have pushed the euro to a loss on the day. at intraday low"

 

"Draghi commenting at length on improving credit conditions - no QE any time soon."

http://blogs.marketwatch.com/thetell/2014/05/08/european-central-bank-li...

Fucking pick a side...

Thu, 05/08/2014 - 09:06 | 4739326 Dr. Engali
Dr. Engali's picture

Just the hope of QE has everybody front running him. People are scurrying to pick up the trash hoping to pawn it off on Prince Drag Queen. He has a good thing going.

Thu, 05/08/2014 - 09:18 | 4739381 OC Sure
OC Sure's picture

 

"DXY just broke support."

...and then reversed.

A near-term / intermediate low in this area would jive well with long bond yields continuing to fall. So far though, the long bond can't pierce a double top on the weekly and as you say the dxy support may be all absorbed.

The closing prices of this week will have an interesting fortune to tell.

Thu, 05/08/2014 - 09:13 | 4739360 Billy Sol Estes
Billy Sol Estes's picture

Insured unemployment numbers.

I cannot wrap my head around that statement.

Thu, 05/08/2014 - 09:16 | 4739369 ejmoosa
ejmoosa's picture

Just more noise....

 

When the officials have to keep telling you things are good, and you believe they are good, they may be right, but it's an accident.

When they tell you things are bad and you think they are good, they are of the minority party and want a change in leadership.

When they tell you things are bad, and you think things are bad, they retire.

When they tell you things are good, but you think they are bad, they are just lying, hoping you do not force them into retirement.

Isn't it we retired the majority of these Assholes from BOTH parties?

Thu, 05/08/2014 - 09:19 | 4739374 MFL8240
MFL8240's picture

How can anyone believe any of this bullshit?  This goverment is making it up as they go along to manipulate financial markets dont you see where the dollar is?

Thu, 05/08/2014 - 09:25 | 4739402 oklaboy
oklaboy's picture

soooo if we are at 62.3, were are the 38.7?

Thu, 05/08/2014 - 09:28 | 4739407 clagr
clagr's picture

It is amazing how many of those states listed voted for Obama. Well, maybe not amazing.

Thu, 05/08/2014 - 10:04 | 4739540 Hohum
Hohum's picture

The link to the report: better than just a seasonally adjusted number.

 

http://www.dol.gov/ui/data.pdf

Thu, 05/08/2014 - 12:13 | 4740064 BeerMe
BeerMe's picture

And yet it is still 319k.  Awesome!

Thu, 05/08/2014 - 12:33 | 4740113 wearef_ckedwith...
wearef_ckedwithnohope's picture

Where i live in NH, a very large shopping mall in the state capital, owned by Rouse Properties, might "hand the keys back" to its lender due to continuing operational losses and loss of tenants.  They might get rid of the mall entirely if they cannot renogiate the mortage and property taxes with the city.  The mall's value is being contested with the city for property tax purposes.

If the worst case scenario comes true - the city will lose its second largest taxpayer and hundreds upon hundreds will lose jobs.  This will have a trickle down effect throughout the region and cause a spike in homeowner's property taxes for city residents.

No - Things are NOT improving.

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