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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Devotional's picture

<-- admit defeat, QE worked

<-- The party will be over,eventually

max2205's picture

Mission accomplished! 

GetZeeGold's picture

 

 

How's that labor participation rate coming along again?

Dr Strangemember's picture

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

insanelysane's picture

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

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!

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.

Dr. Engali's picture

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

GetZeeGold's picture

 

 

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

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...

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 ?

GetZeeGold's picture

 

 

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

Dr Strangemember's picture

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

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!

Colonel Klink's picture

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

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.

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...

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.

insanelysane's picture

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

TheABaum's picture

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