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Initial Claims Plunge To Lowest Since May 2007
"Mission Accomplished"... At 297k this is the lowest initial claims print since May 2007 (beating expectations of 318k by the most in 8 months). This rebound jump lower in claims reflects on many of the most recent indicators bouncing back from weather-effects but the question is its sustainability - and extrapolatibility (which we are sure is a word being used by the sell-side strategists expecting 4% GDP growth in Q2). Total benefits dropped 9k to 2.67 million - the lowest since Dec 2007. All things considered - America is fixed... so why are bond yields collapsing and GDP so piss-poor? Just like Japanese GDP however, good news appears to be bad news as the US equity market did not flinch on this record-setting jobs print.
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Once the labor participation rate is zero, then unemployment will be zero.
BULLISH! (I mean, bullshit)
Great... and gold just got jackhammered in the a-hole with a pogo stick... Thank you "new normal!"
Weather related.
Starting to run out of "actual people" that have "actual jobs"....
>_>
At one point they will loose their ability to play these little dirty tricks. Be right and sit tight. Look at the big picture and don't let rigged background noise disturb your focus.
Since nobody still works, who's left to layoff?
Obozo is left to lay off...
Will the last person working please turn off the lights?
Losing a 29.5 hr/wk job does not qualify you for unemployment.
How's that workforce participation rate coming along? I'm guessing new lows there.
I think you're right but unemployment rules vary from state to state as far as I know.
Anybody got a list of unemployment comp rules for all states?
well something moved the markets at 8:30.....
Whatever happened to that place over there by russia, what was it called, the Jewkraine or something....? Glad thats fixed....
So ... the recession's over, right? Just wanna be sure.
If this really is good news, then the Ponzi Munchkin should throw away her printing machine. Won't hold my breath on that one.
Damn, the bullshit is getting deep.
And the dollar still climbing. Luckily we are a strong dollar people.
This just proves that doing nothing, ie conservatism, works.
How do we reconcile the April jobs report that showed 288,000 jobs being created and 806,000 people dropping from the work force with economic reality? My take on the recent jobs report is that as spring comes upon us ever optimistic and more desperate Americans are being pushed into making a decision as to whether to leave the work force or take a lower paying job that is often part time.
Yes, people are busy scurrying around, but it should be clarified not at a fast pace. The question then arises as to how this will spill over to economic policy. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/05/reconciling-april-jobs-report-wit...
Maybe why my viewing figures are down. I host the breakfast show on cable aimed at unemployed people.
I'm on between 2 and 4 in the afternoon.
I guess that people are too busy working so that explain why they didn't spend so much at Wal-Mart...!
I thought a reduction in selling volume of 4X sized thongs at WalMart was a good thing, No?
Clearly it is time to raise taxes again. We have to take advantage of this bonanza!
"lowest initial claims print since May 2007". You can't leave a job you don't have. But look at the bright side....as more and more leave the workforce we will have fewer and fewer unemployment claims.
Clearly, there must be hundreds of thousands of Americans dropping out of the workforce each month and disappearing by illegally crossing the border and taking low paying jobs away from Mexicans...
Hmmm, we should go over there and soak those expats with their tax obligations. Who do they think they are? Fat cats?
initial claims is one of the worst indicators. it is only useful at the moment the trend changes. only the very first time 'initial claims surge' to a 1.5x std dev will it be useful.
Don't need your stinking jobs...don't need your stinking payroll taxes...don't need your stinking fake stock market...
I'll just do what I can, here on the sidelines. Watching this fake economy implode from within.
Don't even bother trying the old 'patriotism' crap, I have no intention of ever participating in this clown show again.
The only taxes I'll ever pay are the property tax on my house, and the pennies added onto a few consumer goods. Otherwise, it's all 'pre-owned', and tax-free.
And I'll keep scooping up cheap gold and silver, and stashing it. I'll do my 'off-market selling' and pocket the whole amount, with no 'cut' for the taxman.
Yes America, I am the new face of American exceptionalism. Now fuck off.
Who under a $million still, besides Federal Government workers are happy?
poor suckers