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Initial Claims Drop Near Cycle Low "As Good As It Gets" Levels

Tyler Durden's picture




 

The flip-flopping noise of the initial claims data continues as last week's spike and miss is rebounded into this week's beat and drop. At 300k - down 27k from last week - initial claims are at their lowest since May 2007 - practically as good as it gets. Continuing claims continue to fall - now at 2.63 million - to the lowest in the cycle and lowest since Nov 2007. Continuing claims are falling at the fatest pace since 2010.

 

Initial claims near cycle lows...

 

As continuing claims plunges to cycle lows at the fastest pace since 2010...

 

Chart: Bloomberg

 

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Thu, 05/29/2014 - 08:41 | 4805005 order66
order66's picture

Nice to see everyone working again to generate negative GDP.

Thu, 05/29/2014 - 08:43 | 4805016 Headbanger
Headbanger's picture

Along with the increased suicide rate to help get those continuing claims down.

Thu, 05/29/2014 - 08:45 | 4805022 clooney_art
clooney_art's picture

Great Economic Recovery.

The rich got richer due to the Federal Reserve Bank. That's about what happened the last 5 years or so.

What a shame.

Thu, 05/29/2014 - 08:48 | 4805036 Pool Shark
Pool Shark's picture

 

 

Tyler, no mention that preliminary GDP is now contracting for the first time since 2009?

http://www.forexfactory.com/

 

 

Thu, 05/29/2014 - 08:50 | 4805044 MeMadMax
MeMadMax's picture

I love gov'ment "data".....

 

Makes me feel all warm and fuzzy inside....

 

>_>

Thu, 05/29/2014 - 09:28 | 4805241 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

It is just simpler to keep the status quo of counting those on benefits as "unemployed". Those poor workers who are denied opportunity. Well you know. We don't want them to get in the way of our dear leaders lie of full employment now do we?

Thu, 05/29/2014 - 10:01 | 4805391 Mr Pink
Mr Pink's picture

Why wouldn't continuing claims be falling? The federal extensions expired at the end of the year and haven't been renewed. There can't be continuing claims if there isn't anything to claim

Thu, 05/29/2014 - 08:43 | 4805009 firstdivision
firstdivision's picture

Running out of people to fire, and people not able to find a job falling of the LTB.  I love statistical data!

Thu, 05/29/2014 - 11:25 | 4805746 headhunt
headhunt's picture

"I love statistical data!" - so do the data molesters.

I think it would be fair if data molesters were required to register.

Thu, 05/29/2014 - 08:43 | 4805010 orangegeek
orangegeek's picture

and unemployment is 6-ish %

 

so everything is fine

Thu, 05/29/2014 - 08:43 | 4805011 Grande Tetons
Grande Tetons's picture

Correct me if I am wrong...less jobs to lose implies lower claims. No? 

Thu, 05/29/2014 - 09:45 | 4805320 Kaiser Sousa
Kaiser Sousa's picture

"Correct me if I am wrong...less jobs to lose implies lower claims. No?"

please use bold text next time for emphasis....

Thu, 05/29/2014 - 08:43 | 4805012 Racer
Racer's picture

What a big mess up, they fudged the numbers in the wrong direction!

Thu, 05/29/2014 - 09:00 | 4805087 Me.Grimlock
Me.Grimlock's picture

I blame the Common Core Maffs

Thu, 05/29/2014 - 08:43 | 4805013 Stoploss
Stoploss's picture

Get u some o that math.

Stady as she goes.

Thu, 05/29/2014 - 08:43 | 4805014 Devils Advocate
Devils Advocate's picture

Ah yes sweet success!!

Thu, 05/29/2014 - 08:44 | 4805019 dirtyfiles
dirtyfiles's picture

Disneyland

Thu, 05/29/2014 - 08:47 | 4805034 Headbanger
Headbanger's picture

On LSD too!

Thu, 05/29/2014 - 08:45 | 4805024 wearef_ckedwith...
wearef_ckedwithnohope's picture

Lowered continued claims is not necessarily good - If they exhausted their benefits with no extension, where do they turn?  Answer is obvious and not good.

Thu, 05/29/2014 - 11:22 | 4805734 headhunt
headhunt's picture

Record number and percentage of people on Disability - people get desperate even though we have the best economy ever.  I mean look at the stock market, things must be great everywhere!

Right?...

 

Thu, 05/29/2014 - 08:46 | 4805031 praps
praps's picture

It was a holiday on Monday

Thu, 05/29/2014 - 08:48 | 4805037 Seasmoke
Seasmoke's picture

It's only a depression if you lose your job.

Thu, 05/29/2014 - 08:49 | 4805040 Solomon the KING
Solomon the KING's picture

so the possible reason for the drop in c-claims is?

Thu, 05/29/2014 - 08:49 | 4805041 the not so migh...
the not so mighty maximiza's picture

great time to buy a house, car and boat

Thu, 05/29/2014 - 09:04 | 4805102 Me.Grimlock
Me.Grimlock's picture

Yeah!  THIS time it's different!!1

Thu, 05/29/2014 - 13:13 | 4806213 Emergency Ward
Emergency Ward's picture

GM car loan zero down zero interest 96 months (combine with $10,000 instant manufacturer's rebate).

Home Loan zero down 1.5% interest 600 months with "equity" cash-back for mini-yacht.

Thu, 05/29/2014 - 08:51 | 4805053 papaswamp
Thu, 05/29/2014 - 08:55 | 4805071 Ness.
Ness.'s picture

We don't need no stinkin' jobs.  Negative GDP!? Who cares?  We gots USD/JPY/SPY baby!!

 

Thanks Janet/Benny/Greeny - you fucking clowns.

Thu, 05/29/2014 - 09:02 | 4805093 agstacks
agstacks's picture

Phew, thank god it warmed up and people are now getting back to work. {S}

Thu, 05/29/2014 - 11:18 | 4805715 headhunt
headhunt's picture

Yes, but soon people will be sweating and unable to shop with that 'climate change' thing going on.

Thu, 05/29/2014 - 09:10 | 4805135 Space Animatoltipap
Space Animatoltipap's picture

Yellen already indicated that she undestands the total labour picture quite well. With that she hinted to resurrection of QE. 

Thu, 05/29/2014 - 09:12 | 4805142 MWizard
MWizard's picture

Why do intelligent investors and traders lose on financial markets? For example Myron Scholes and Robert Merton, 2 professors which got Nobel Prize in economics in 1997. One year later their hedge fund LTCM went bankrupt. Explanation is based on the results of the scientific experiment made on  the University of Amsterdam. https://www.youtube.com/watch?v=DopyDIHEUBk

Thu, 05/29/2014 - 09:56 | 4805337 deflator
deflator's picture

 If you are not collecting unemployment benefits you are not counted as unemployed in this picture that is, "better than a thousand words."

 Employers have many tools at their disposal to prevent laidoff workers from collecting unemployment benefits. Many employers discriminate against prospective hirees that have gaps in their employment filled with Unemployment compensation. Right to work laws make it easy for employers to prevent laid off workers from collecting UI. In right to work States employers can fire employees without reason. If you are fired, it is difficult and a long drawn out time consuming process to become eligible for unemployment benefits.

 Regardless of your views on unemployment compensation, it is clear that, "right to work" should have been declared unconstitutional as it is the definition of a law that is misleading in its description. "Affordable Care Act" is another fine example of Orwellian doublespeak.

Thu, 05/29/2014 - 11:03 | 4805622 chimchim
chimchim's picture

Gibberish, moron. U deflate us with your trash.

Thu, 05/29/2014 - 11:16 | 4805704 headhunt
headhunt's picture

Like all people there are some who abuse the system and this includes employers and employees.

In my many years of employment I have seen far more lazy employees take advantage of the system and their employers. These 'employees' have it down to a science and work the prescribed number of hours and then promptly become a lump of useless flesh waiting for the inevitable layoff or firing so they can collect a UC check, while everyone else works to support them.

'Right to work' keeps those employees who want to work employed and the employer from going bankrupt fighting useless lumps of flesh.

 

Thu, 05/29/2014 - 19:24 | 4807839 deflator
deflator's picture

I'm very disappointed in the twoayas. My experience of 34 years mostly commercial construction is that most people do not want a handout, they want the satisfaction that comes with completing goals. Most people become lazy and cynical because they are used to being treated like shit their whole lives. My experience is that most guys that I have had to try to get work out of are "break even guys" when I get them. They only do just enough to get by. I give my crews a goal and even if I have to kill myself to reach it I give them the credit, not the other way around. Sorry, I have a higher view of my fellow humans than to think that most are inherently "lazy lumps of useless flesh".

Fri, 05/30/2014 - 07:58 | 4808924 headhunt
headhunt's picture

I agree that most people do in fact want to work and no where do I say "that most are inherently "lazy lumps of useless flesh"." I say that far more employees abuse their employers than vice-verse. Which really screws all of the other employees.

Reading comprehension 101

Thu, 05/29/2014 - 13:33 | 4806327 BeetleBailey
BeetleBailey's picture

Here's how AP and the lame stream insti-spin this shite...

Applications for US jobless aid near 7-year low....."which shows strengthening in the labor market"....

fucks....

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