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Initial Jobless Claims Collapse To April 2000 Lows

Tyler Durden's picture




 

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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Thu, 10/16/2014 - 08:39 | 5340589 Stoploss
Stoploss's picture

LOL!!!

Thu, 10/16/2014 - 08:41 | 5340597 wallstreetapost...
wallstreetaposteriori's picture

Difference between today and 4/2000?  Take a look at the participation rate.

Thu, 10/16/2014 - 08:43 | 5340607 onewayticket2
onewayticket2's picture

is there an election coming up or something??

Thu, 10/16/2014 - 08:44 | 5340617 GetZeeGold
GetZeeGold's picture

 

 

Take a look at the participation rate.

 

These are not the droids you're looking for.

Thu, 10/16/2014 - 08:49 | 5340632 Doubleguns
Doubleguns's picture

Wasn't this info manipulated prior to last election.?

 

http://nypost.com/2013/11/18/census-faked-2012-election-jobs-report/

 

Fool me once......

Thu, 10/16/2014 - 08:56 | 5340659 eclectic syncretist
eclectic syncretist's picture

Well,...if next Wednesday's CPI number comes in high that would pretty much mean the Fed clearly remains in tightening mode. 

Thu, 10/16/2014 - 08:44 | 5340614 I MISS KUDLOW
I MISS KUDLOW's picture

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

Thu, 10/16/2014 - 09:00 | 5340679 Croesus
Croesus's picture

We do live in interesting times...scary, but interesting. 

Thu, 10/16/2014 - 09:01 | 5340680 mayhem_korner
mayhem_korner's picture

 

 

...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.

Thu, 10/16/2014 - 09:40 | 5340917 EffedNow
EffedNow's picture

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.

Thu, 10/16/2014 - 09:50 | 5340961 JRobby
JRobby's picture

After your claim expires, you have to work for 16 weeks before you can file another.

SSDI??

 

Thu, 10/16/2014 - 08:38 | 5340590 bnbdnb
bnbdnb's picture

Really soon, we get to see who is really in power. The US government, the federal reserve, the hedge funds, or the banks.

Thu, 10/16/2014 - 08:41 | 5340595 tmosley
tmosley's picture

You can't file for unemployment when you lose one or two of your three jobs.

Thu, 10/16/2014 - 08:55 | 5340653 Seasmoke
Seasmoke's picture

You should be able to rehypothicate each part time job into unemployment checks. 

Thu, 10/16/2014 - 09:04 | 5340695 mayhem_korner
mayhem_korner's picture

 

 

Prorated unemployment - nice.  You should drop that in the "Suggestion Box" at 1400 Pennsylvania Avenue.

Thu, 10/16/2014 - 10:18 | 5341120 Government need...
Government needs you to pay taxes's picture

Dammit, you've just blown the surprise of Preezy's 2015-16 economic strategy, homefront edition.  Part-time FSA goodies!

Thu, 10/16/2014 - 08:43 | 5340598 Dr. Engali
Dr. Engali's picture

There is nobody left to lay off in part time Obama care world.

Thu, 10/16/2014 - 08:42 | 5340600 Silverhog
Silverhog's picture

Just companies switching over to mostly part time help. Nothing really happening here. More people to do the same job. 

Thu, 10/16/2014 - 08:43 | 5340608 youngman
youngman's picture

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...

Thu, 10/16/2014 - 08:44 | 5340616 Archetype
Archetype's picture

Oh thats bad... No moar QE fuel for santas rally '14.

Thu, 10/16/2014 - 08:47 | 5340622 trueFacts
trueFacts's picture

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.

Thu, 10/16/2014 - 08:51 | 5340628 ZH Snob
ZH Snob's picture

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.

Thu, 10/16/2014 - 08:47 | 5340631 insanelysane
insanelysane's picture

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.

Thu, 10/16/2014 - 08:48 | 5340634 ejmoosa
ejmoosa's picture

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.

 

Thu, 10/16/2014 - 08:50 | 5340636 Bloody Muppet
Bloody Muppet's picture

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'.

Thu, 10/16/2014 - 08:51 | 5340642 SheepDog-One
SheepDog-One's picture

'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.

Thu, 10/16/2014 - 08:53 | 5340648 papaswamp
papaswamp's picture

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.

Thu, 10/16/2014 - 08:55 | 5340657 Sick
Sick's picture

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.

Thu, 10/16/2014 - 08:58 | 5340666 mayhem_korner
mayhem_korner's picture

 

 

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.

Thu, 10/16/2014 - 10:09 | 5341068 markar
markar's picture

No one left to fire? Wait til the airlines start furloughing thousands because of Obola scare.

Thu, 10/16/2014 - 08:58 | 5340671 Silverhog
Silverhog's picture

These numbers are meaningless. Factory orders are tanking. Saying this is a positive sign is putting the cart in front of the horse. 

Thu, 10/16/2014 - 09:16 | 5340776 wonderatitall
wonderatitall's picture

...but , he is ozbma the all powerful and great, chicgao criminal , so it'll revert in nov

Thu, 10/16/2014 - 08:59 | 5340672 irie1029
irie1029's picture

My dad always said you can only live a lie so long.  

Thu, 10/16/2014 - 09:10 | 5340729 Seasmoke
Seasmoke's picture

101 years is a long fucking time !!

Thu, 10/16/2014 - 08:58 | 5340673 gswifty
gswifty's picture

And the throngs cheer on cue. All is well in Oz.

Thu, 10/16/2014 - 09:01 | 5340674 ekm1
ekm1's picture

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.

Thu, 10/16/2014 - 09:25 | 5340842 kowalli
kowalli's picture

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

Thu, 10/16/2014 - 09:06 | 5340701 BullyBearish
BullyBearish's picture

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?

Thu, 10/16/2014 - 09:09 | 5340718 Smegley Wanxalot
Smegley Wanxalot's picture

They aren't jobless ... they are Employment Deprived.

Get on the ball, man!

Thu, 10/16/2014 - 10:16 | 5341106 Government need...
Government needs you to pay taxes's picture

Would 'disemployed' play as well as it does for 'disinflation'? Diss here unemployment claim number looks strange. . .

Thu, 10/16/2014 - 09:22 | 5340820 richiebaby
richiebaby's picture

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

Thu, 10/16/2014 - 10:09 | 5341059 Sages wife
Sages wife's picture

You don't need a weatherman to know which way the wind blows. - Bob Dylan

Thu, 10/16/2014 - 10:41 | 5341249 sdmjake
sdmjake's picture

The pumps don't work 'cause the vandals took the handles

Thu, 10/16/2014 - 12:01 | 5341783 Otto Zitte
Otto Zitte's picture

Vandals is capitalized.

Thu, 10/16/2014 - 10:10 | 5341073 rejected
rejected's picture

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.

Thu, 10/16/2014 - 10:12 | 5341083 Colonel Klink
Colonel Klink's picture

Three words....Government.supplied.data.

Thu, 10/16/2014 - 12:00 | 5341775 Otto Zitte
Otto Zitte's picture

1 word: BS

Thu, 10/16/2014 - 10:31 | 5341183 starman
starman's picture

xoxo Obama and Michelle

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