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Initial Jobless Claims Collapse To April 2000 Lows
As we noted last week, when there is no hiring, there is no firing...
and so it is that initial jobless claims collapsed to 264k this week (versus 290k expectations) - the lowest since April 2000 (and 2nd lowest ever on record). That is not what the market wants to hear right now... it is craving bad news to get The Fed re-engaged. Continuing claims inched higher from 2.382 million to 2.389 million but remains near cycle lows.
To sum up: its never been better than this for employment... according to the government-supplied data. Unless you look at this...
Charts: Bloomberg
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LOL!!!
Difference between today and 4/2000? Take a look at the participation rate.
is there an election coming up or something??
Take a look at the participation rate.
These are not the droids you're looking for.
Wasn't this info manipulated prior to last election.?
http://nypost.com/2013/11/18/census-faked-2012-election-jobs-report/
Fool me once......
Well,...if next Wednesday's CPI number comes in high that would pretty much mean the Fed clearly remains in tightening mode.
greeat awesome spectaculari knew the fed could do it and they did it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!and just as qe is ending ,,,,,,,,,, here is to coming of closing of all borders do to ebola while the hyperinflation takes place
We do live in interesting times...scary, but interesting.
...and the Royals winning the World Series - again.
That ends our study in words that don't go together. Now back to the market carnage.
Plenty of businesses have just let positions go unfulfilled. after all, why hire when don't know if you'll need to lay them off in another month or two.
The people that put out these reports are "weapons-grade" stupid.
After your claim expires, you have to work for 16 weeks before you can file another.
SSDI??
Really soon, we get to see who is really in power. The US government, the federal reserve, the hedge funds, or the banks.
You can't file for unemployment when you lose one or two of your three jobs.
You should be able to rehypothicate each part time job into unemployment checks.
Prorated unemployment - nice. You should drop that in the "Suggestion Box" at 1400 Pennsylvania Avenue.
Dammit, you've just blown the surprise of Preezy's 2015-16 economic strategy, homefront edition. Part-time FSA goodies!
There is nobody left to lay off in part time Obama care world.
Just companies switching over to mostly part time help. Nothing really happening here. More people to do the same job.
Its just treading water....business is just surviving....not hiring..not laying off....just watching to see if things change....they still do not know what Obamacare is going to cost...
Oh thats bad... No moar QE fuel for santas rally '14.
oh no, rocks and hard places! the politicians have to lie and say economy is good to get elected, but that is causing the market to crash... too funny.
the fed targets 6% UI to step out of the way and restore interest rates, but of course that is all a smokescreen. it has never been about helping the economy get back on its feet. it's just to help the balance sheets of 5 banks so they can buy derivative chips in the fed-run casino and have the various games fixed for them. so they muddle along, stealing the citizens wealth, and like any other degenerate gambler it's all about being in the game.
I've been waiting 6 years to get back into the stock market. With this great employment news, it's time for me to jump back in and buy, buy, buy.
On second thought, maybe I'll wait till tomorrow.
This number is like tea leaves in the bottom of a tea cup, only worse.
Most people know you cannot tell the future from the tea leaves.
The claims number? Treated by some as the gospel truth.
An emotional shaken, psychologically distraught, broke, desperate bunch of people have the smallest hope their internship, part-time or temporary job will change into something more substantial.
And the good times will just keep on comin'.
'Market' ain't tryin to hear about lower joblessness! I'd say it's high time this rotten market was brought down with all its rotten produce.
Got to have a bottom. NSA data though has been creeping up. Second straight week of +10,000 initial claims. ZH needs to do. Graph of the number of jobs that qualify for UI... i think that would be eye opening.
With record low labor participation rate, one should not see this as anything to cheer about. Less employed to start with fewer to let go. It would be interesting to see a chart correlating jobless claims to labor participation.
The QE circle is now complete - there's no one left to fire.
Speaking of fire - if you don't have any newspaper, stawks make good fire-starters.
No one left to fire? Wait til the airlines start furloughing thousands because of Obola scare.
These numbers are meaningless. Factory orders are tanking. Saying this is a positive sign is putting the cart in front of the horse.
...but , he is ozbma the all powerful and great, chicgao criminal , so it'll revert in nov
My dad always said you can only live a lie so long.
101 years is a long fucking time !!
And the throngs cheer on cue. All is well in Oz.
As I said in May 2013:
QE3 will halt the world economy and it was all by design.
Too much dollars sloshing around now.
Time to mop up $10-20 trillion reserves, otherwise total collapse of supply chains which are currenty breaking down.
Time to mop up $10-20 trillion reserves, otherwise total collapse of USA corrupt government and banksters supply chains which are currenty breaking down.
fixed for you, no thanks needed
Remember when we said, "It doesn't go down until THEY say it will go down." They've said.
Can you say, RESET a la 2011?
They aren't jobless ... they are Employment Deprived.
Get on the ball, man!
Would 'disemployed' play as well as it does for 'disinflation'? Diss here unemployment claim number looks strange. . .
I would like to see the FED institute the Prostitution Index. You would see the immediate correlation between those falling off the jobless claims into prostitution jobs
You don't need a weatherman to know which way the wind blows. - Bob Dylan
The pumps don't work 'cause the vandals took the handles
Vandals is capitalized.
Talk about handpicking numbers! Over half the nation bumming off those still employed we choose the number that indicates they have stopped firing for awhile. All so we can feel good when some go to the polls to pick between the prechosen. The only thing this nation is exceptional at is bullshit.
Three words....Government.supplied.data.
1 word: BS
xoxo Obama and Michelle