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Initial Jobless Claims Misses For 4th Week In A Row; Hovers Near Cycle Lows
On a revised basis, initial claims dropped 2k this week but marginally missed expectations at 312k. This is the 4th week in a row of marginal misses - none of which were large enough to get to excited about but it appears the limit has been reached in this cycle. Continuing claims rose for only the 2nd time in 10 weeks.
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#Sustainable
...pushes S&P futures up.
Today's POMO $0.85 - $1.10 billion, not as big as yesterday's.
DavidC
Part time jobs for everyone!
I don't know much about employment metrics but I can't help but wonder if employment statistics work in kind of tiers? Is it possible we are at some baseline employment statistic where employers will hold at a certain level for so long, waiting for a bounce in business, and then at some point just say fuck it and start laying off again. I know as a small business with six employees, I have had guys milling about for the last couple of months, but at some point I WILL have to start sending someone home. Most employers I know don't just lay off people incrementally. They have work groups that kind of operate as a unit, making laying of just a few hard to do and still keep that unit functional. I don't know, but something is going on here that the numbers do not reflect.
I think this is just a natural mid cycle correction amplified by "extraordinary measures" designed to "save Wall Street." (Since Wall Street can do no right then they must get the bulk if not totality or American largesse.)
So "debt and inflation"...just on a Continental Scale.
The. Feds are cutting spending actually...and have been for some time...but that is not in fact cutting the "size" (meaning the debt load) of Government.
These solutions are being executed on. The internet is a powerfully deflationary force in the economy...leading to "serious abandonment issues." (Detroit et al.)
If you've got to lay people off here you're not alone. The sheer size of the Federal Contracting authorities has dictated a stupendous amount of White Elephants that don't have to be but are being paid for (public schools with no kids, mail processing centers with no mail, airports with no planes, roads with no cars, billion dollar subway lines with no passengers. Hospitals with no patients.)
We still...us down here in the cheap seats...still have to pay for all this. Especially anyone with a hiring authority.
Those furthest away from the Center...those that are innovating yet are not beholden to Wall Street banks...very few places I might add...have done best.
The worst has been the utterly corrupt institutions of real estate and "commerce." The former has demanded (and gotten) a "permanent bailout regime" which has bankrupted the bulk of the States...and the latter has demanded...and gotten...huge tax breaks for entities that haven't developed an innovative product...if not a product period...for probably four decades.
Those are our "real" representatives in Washington...and this recession is absolutely and totally their handiwork.
There is of course "the dark side to the internet as well."
And Baltic Dry falls another 2.6% to 824.
watching cnbc and bloomberg this morning an absolutely no analysis of the numbers. they stated them, scrolled them but not too long ago they would have a panel waiting for the numbers.
nothing to see here, move along.
I think we can all agree that this will be considered bullish for equities. If -3% GDP can rally stocks, this should be seen as uber-bullish.
All is good in the US. Dow 17000 for a 4th of July celebration is imperative for our communist regime. Yellen will be giving free BJ's to all buyers of the f'in dip.
No thanks on the BJ from yeller...I like women.
Don't worry, Yellen uses a glory hole.
All is good in the US. Dow 17000 for a 4th of July celebration is imperative for our communist regime. Yellen will be giving free BJ's to all buyers of the f'in dip.
It's always bullish these days. The bots and William Dudley of the NY Fed have everything under control.
Heres one of the rare exceptions of 'down is good', the latest grotesque disfigurement of modern monetary theory
I'm amazed that there still are jobless claims...
In other news: WOIII WILL START THIS EVENING!!!
Germany vs. America...
this time... my money in on Germany...
Summer of George!
Employment changes lag the corporate profits cycle.
Once it sinks in to management that the first quarter was not an aberration, the cutting will become fast and furious.
The Marketwatch headline is "Jobless claims stay near POST RECESSION low."
Those kids are funny... Post Recession... what a hoot.
Given the extended length of time we've been in a depression (yes, it hasn't gone away just because some pencil necked econ' statist water-carrying asshole just says it is) these numbers and the unemployment rate mean very little.
Once enough people fall off the insurance and stop looking the unemployment rate could reach 0%... that doesn't mean things are fine and dandy.
We need to see more reports regarding those actually employed, underemployedd, etc. to get a true view of the economys health.