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Initial Jobless Claims Drop; Continuing Claims New 7-Year Lows
Initial claims very slightly missed expectations (312 vs 311.9 exp) for the 3rd week in a row but the signal is no worse and no better as it sits near cycle lows. Continuing claims continue to drop; at 2.56 million, this is the lowest continuing claims since Nov 2007 - the last 4 months have seen continuing claims drop at the fastest rate in over 4 years. The bottom line is 'this is as good as it gets'...
And this is what last week's claims looked like broken down by state.
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Continuing claims dropping? Elegibility runs out maybe?
BULLISH!
Yeah once you're a zombie, that's it for unemployment eligibility.
All is well.
This is the best of all possible worlds.
Obey your rulers.
I think you're dead on. One of the many reasons they create these fictional numbers is to convey to the sheep that it is their own fault if they are out of a job. If people blame themselves, they won't get angry at the status quo. The average person is only aware of the topline numbers.
Welp, that was a fun 99 weeks. Off to the SS office to sign up for disability.
Actually Congress never passed the federal unemployment extension. Most states only have 26 weeks of bebefits. What did they think this was going to do to the continuing claims number?? I'm sure CNBS mentioned that
Of course the initial claims are dropping; people who aren't working can't be layed-off.
Of course continuing claims are dropping; people who collect unemployment too long exhaust their benefits.
Duh.
"Of course the initial claims are dropping; people who aren't working can't be layed-off."
My point and you already made it.
Its becoming obvious that for many American businesses at this point -the Walmarts/McDonalds etc -that the fastest route to more profit is through expansion of Food stamps/Welfare rollsand in geneal, Federal dependency
Businesses have learned that big government is their friend. They pay politicians to run up debt and provide people w just enough $ so they can hit Wal Mart, McD's and he'll even Red Lobster once a month. It's all coming to an end soon.
Lost for words
part timers don't qualify for unemployment. eliminate 1 full time, create 3 part timers, wonderful headlines.
It's the weather. It's too nice outside to bother filing.
Ah. Let me be clear. Ah. If you like yourself being out of the job market, you can keep yourself out of the job market.
When we reach zero will this be Obowelmovments " Mission accomplished " moment?
Shit is getting very close to hitting said fan.
I agree... though I've been saying so for about 6 years now.
http://youtu.be/kRW7pITY5Cg - watch me pull a rabbit out of my hat.
Shit did hit the fan 6 years ago. What has followed is the equivalent of wrapping a tourniquet around someone's neck after their head is chopped off. Eventually, the entire body will fail.
This is the new normal...with the lower amount of people working....and all the companies have done the cutting to the bone....this is it..and when you run out..you run over to disability...that is a life long payment..and then you can really get fat...
Actually, disability checks are an incentive for getting fast; booze and drugs work too.
I wonder who will break it to the political class that robots and automation don't pay no stinkin income tax?
Yet, Winston. Yet.
I hear the Dems have a proposal being floated that will unionize all the automated manufacturing robots, give them citizenship and collect union dues from them.
Ahahahaha
Well, it's all settled then. We ARE recovered...
People are too obese to apply for unemployment. Obesity and weather explain every economic statistic in USA today.
I find the CA and FL numbers disturbing since we are heading to the vacation season. Seems like there is a shrinkage issue. Water must be cold.
cold and radioactive. little mutant jobs market.
I think with the raising waterline there is less beach front, therefore, less tourism opportunity, fewer resorts & hotels, therefore less employment needs. I think Al Gore warned about this right after inventing the internet.
Wouldn't it be easier just to send Flak an engraved invitation (the Honour of Your Presence ... .")?
classified adds in news papers used to be one tell on hiring or lack there of - now what do we watch to see if help wanted adds are growing? monster.com who knows? I do not hear adds on radio for help wanted, seems the days of the internet have taken us to unk territory...where are the help wanted adds of today??
Many compaies are advertising "jobs" that they claim they are unable to fill. Why would that be? Perhaps the pay scale is below the actual "cost" of taking employment in the first place. You can expect this until ACA is fully implemented and all costs are known.
Propaganda that keeps the masses hopeful will keep them from loading their guns.
More reasons for it actually. The data from a resume is valuable and can be sold to data brokers. They are also basically fishing trying to replace existing workers with someone who magically has more skills and is willing to work for even less because they are desperate. And finally, as long as they do this, they can claim they are "hiring" which boosts stock prices
no worries... the govt tells us everything we need to know.
With VIX in single digits, soon to go negative, it's time to put all your shit on eBay and hit the CoinStar machine and buy all the stawks you can!
The time to do that was long ago. Now is the time to ride the wave taking profits and buying real stuff.
I feel better now. This is what recovery feels like, and I am a fan. Ease back, Jimbo - you got to get with the program. Army of the 12 monkeys better.
The "Berlin" of this Administration is housing. If that thing tanks you're gonna see total mayhem.
if?
Why is everyone crying wolf or screaming like chicken little.The economy, which has recovered all the 8.7 million jobs lost during the recession, has enjoyed four straight months of job gains above 200,000, a stretch last seen in early 2000. Sounds to me things are getting alot better. There are just over 2 million collecting unemployment benefits. I just dont understand the fear mongering thats going on with the collapse of the economy.
There's someone that's with the program. Just in case you're not teasing, what happens to people after long term unemployment runs out, do they A) go back to work or B) go to disability and or a noose? For extra credit, does 8.7 million jobs "put everyone back to work" in a labor force that grows every year?
There are more options than you listed.
Work or not work is pretty clear - if you lose a job, you either get a new one or you don't. If you don't, you live off your own wealth or you go on assistance. Easy peasy.
Workforce grows every year around .7%, which works out to around a million workers. 5 years of a million new workers, on top of 8.7 million workers that lost jobs does not get you back to zero by adding 8.7M jobs.
You sell stuff
You declare BK
You move in with friends or family
You eat from the food bank
You ride the bus or a bicycle
Where's your /sarc tag, sir?
If you don't mark it "sarcasm" you will be junked by trolls that piss red or blue. Ya' know that Kool Aide is all food coloring.
Lol, sorry guys. Yes I was being very facetious. I will be sure to mention that next time.
It was better the way you did it. The lurkers just had to jump on it. They could not stop themselves.
Kind of like a cat watching HO cars going around and around the track for a while. Pounce!!!!
OK Mister 7 weeks....sounds like you are a Fuckbama douche....so go do your job there....and stay there
That is some funny sarcasm you are spewing there. Tell that to the part time worker who is now holding down two jobs because Zerocare forced his company to downsize.
There's almost no one left to fire and still run industry.
The criminal element in the District of Crime is #winning at killing the middle class.
Stay obedient sheeple.
Moar people got approved for SSDI!
We have a new method for handling jobless claims. It is called prison. Once your unemployed we will find a raason to fine you. When you can't pay the fine we put you in jail. When you are in jail we have a new correctional labor pool Please do not refer to this as free labor or slave labor it is all the people who don't have jobs and commit crimes like not paying fines or steal food in order to survive.
Everyone exhausted their claims months ago. What bullshit.
i Feel i am Lucky to still have the SAME Low paying job i had Before the Explosion of 08/09...
So, claims are falling...but what does that mean? Maybe it means things are getting better...but too many other indicators say it's not.
Claims might be down for another reason though. People on unemployment do see their benefits exhaust after a time, and are then forced into low-wage jobs that don't provide enough work-hours to qualify for a new claim should they lose that job. Those newly unemployed will NOT be reflected in unemployment claims.
The long-term unemployed are NOT reflected in those numbers either.
And of course, there is the question of just WHAT are all these folks doing for money? Sure, they are getting some assistance, but I'll bet folding money that many of them have gone on to the 'underground economy'. The message boards at our development are filled with ads from all sorts of folks...plumbing, carpentry, electrical work, landscaping, etc. All cash only, *wink wink! nudge nudge!" The guy I used when I needed a refrigerator repair was very reasonable in his prices, and did a very good job. Paying him with cash felt very good as well, almost like a revolutionary act...we were dealing directly with each other, no government interferences. And no tax revenue for the government...
Starve the Beast!
We're muddling along, that's all. Credit keeps the labor market in a drowsy state.
TOTAL FUCKING BULLSHIT!
the American people know lies when they hear them or read them. Unemployment is at 6%, All the e-mails were accidentally deleted.
the American people know lies when they hear them or read them. Unemployment is at 6%, All the e-mails were accidentally deleted.
The problem boils down to the fact that everything has become so utterly driven by metrics and spreadsheets and targets that as long as the numbers add up within scope and the output is acceptable, everyone gets to claim they are not to blame for the real result. No one's ever to blame you see, everyone was just doing their own little part just as they were instructed to do according to the manual. Let's just ignore the fact that the jobs created are all crap, the jobs vanished were good, ignore the labor force increase, ignore the fact that all the created jobs are going to seniors who lost their retirement, ignore the fact that a workforce in prime earning years and peak productivity potential is being lost, and ignore the fact that participation rates are low and government benefit numbers are at an all time high and growing. Yep, ignore the full picture and everything is glorious. Also ignore the fact that the metric used for "recovery" is bullshit, as the IT bubble crash was never actually recovered from.