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Initial Jobless Claims Drop Back Under 300k, Continuing Claims Rise

Tyler Durden's picture




 

"Slack" or "no slack" - initial claims tumbling along the bottom of the lowest levels in a decade suggest the US economy's job creation is as good as it gets. Initial claims was stable at 298k (vs expectations of 300k) down very small from the 299k adjusted data for last week. Continuing claims rose 25k on the week and missed expectations but also continues to tread water at the lowest levels since 2007.

 

 

Finally - some may remember this chart as the best indicator of why stocks should keep rallying... still feel that way?

 

Now where have we seen this before?

 

Chart: Bloomberg

 

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Thu, 08/28/2014 - 08:39 | 5153217 Devotional
Devotional's picture

<-- admit defeat, QE worked

<-- The party will be over,eventually

Thu, 08/28/2014 - 08:43 | 5153231 max2205
max2205's picture

Mission accomplished! 

Thu, 08/28/2014 - 08:44 | 5153237 GetZeeGold
GetZeeGold's picture

 

 

How's that labor participation rate coming along again?

Thu, 08/28/2014 - 08:48 | 5153250 dobermangang
Thu, 08/28/2014 - 09:51 | 5153432 Dr Strangemember
Dr Strangemember's picture

So how are all the new "unemployed" illegal (americans) aliens accounted for?  Are they just "off the books" right now?

Thu, 08/28/2014 - 10:10 | 5153500 insanelysane
insanelysane's picture

Labor participation rate is so good the MSM stopped reporting on it.

Thu, 08/28/2014 - 08:49 | 5153253 Devotional
Devotional's picture

I hear you ... and also the quality of jobs created is not good. I am in the IT sector, Juniper Networks and Cisco Systems are laying highly qualified people off. Not to mention Microsoft. The training classes are always with bare minimum attendees. This is a fact, I live in the real economy ffs!

Thu, 08/28/2014 - 08:53 | 5153263 Occams_Chainsaw
Occams_Chainsaw's picture

You are correct sir.  All those 29.5 hour a week jobs are doing us a lot of good.  Not to mention that pay has been driven way down.

Thu, 08/28/2014 - 08:48 | 5153251 Dr. Engali
Dr. Engali's picture

In other news, disability and SNAP participation continues to climb and set new records.

Thu, 08/28/2014 - 08:53 | 5153261 GetZeeGold
GetZeeGold's picture

 

 

The good news is I doubt CNBC will bring that up.

Thu, 08/28/2014 - 08:57 | 5153272 dobermangang
dobermangang's picture

You have to be really, really, really poor to get onto the SNAP program.  I don't think they kick anybody off the food stamp program either.  Here's the only example I could find.

http://articles.latimes.com/2012/oct/02/nation/la-na-nn-michigan-lottery...

Thu, 08/28/2014 - 09:04 | 5153291 ThirteenthFloor
ThirteenthFloor's picture

In further news more jobs moved off shore in accounting and finance.  We ask the question, is their really anybody else to layoff that can make a claim ?

Thu, 08/28/2014 - 09:21 | 5153339 GetZeeGold
GetZeeGold's picture

 

 

My local Burger King is now a Hortons....when the hell did that happen?

Thu, 08/28/2014 - 09:54 | 5153454 Dr Strangemember
Dr Strangemember's picture

Mmmmm!  Donut Burger with Cheese!!!!  Make mine a double! 

Thu, 08/28/2014 - 10:42 | 5153649 clade7
clade7's picture

GZG and Strangemember...take 2 Crispy Creme glazed donuts, make a cheeseburger, put bacon on it, and some smokey BBQ sauce...use the donuts for the bun...

Thats called a 'Luther' after the famous Luther Vandross...its what he ate every day...killed him...but damn is it good!

Thu, 08/28/2014 - 10:47 | 5153709 Colonel Klink
Colonel Klink's picture

New spelling in 'Murika when they do....Whoretons.  It also becomes a Buffet

Thu, 08/28/2014 - 08:59 | 5153277 intric8
intric8's picture

Two possibilities here, either The Lord on high personally engineered the most incredible economic turnaround from the worst financial crisis in history of our country, or the data and reporting in this recovery is fucking phake.

Thu, 08/28/2014 - 09:33 | 5153379 knickfan81
knickfan81's picture

lol..i wonder what will happen to zerohedge.. they have been calling "sky is fallin' since inception now..i am still waiting holmes...

Thu, 08/28/2014 - 10:06 | 5153486 moneybots
moneybots's picture

"lol..i wonder what will happen to zerohedge.. they have been calling "sky is fallin' since inception now..i am still waiting holmes..."

 

The sky has not stopped falling since 2007.  Real wages have been falling. 36% have no retirement savings.  45 million on food stamps.  92 million not working.  The list of dire circumstances gets rather endless.

Thu, 08/28/2014 - 10:15 | 5153522 insanelysane
insanelysane's picture

The decline happens gradually, not with a bang but a whimper.  See Roman Empire.

Thu, 08/28/2014 - 14:42 | 5155048 TheABaum
TheABaum's picture

You should head over to the aptly named "yahoo finance", since they've been trumpeting recovery for about the same time.

Do NOT follow this link or you will be banned from the site!