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Initial Jobless Claims Rise Most In 3 Months, 4-Week Average Lowest Since 2000

Tyler Durden's picture




 

Having reached multi-year lows last week, this week's 17k rise to 283k (albeit noise), missing expectations for the first time in 6 weeks, is the biggest weekly rise in initial jobless claims since early August. Of course that's irrelevant as all the time there is no hiring, there is no firing and the 4-week average (less noisy) dropped to its lowest since May 2000 - though we are sure Fed heads will not be reassured by this data as they focus attention on inflationary expectations (having 'fixed' employment). Continuing Claims dropped to cycle lows - the lowest since Dec 2000.

 

First miss in 6 weeks and biggest weekly rise in almost 3 months... but trend is in tact

 

And Continuing Claims plunges to near 15-year lows...

 

Certainly looks like time to unleash QE4 eh!!??

 

Charts: Bloomberg

 

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Thu, 10/23/2014 - 08:47 | 5366842 AdvancingTime
AdvancingTime's picture

I contend this doesn't matter much and is all noise. It takes our eyes off the big picture that is far worse.

Thu, 10/23/2014 - 08:50 | 5366849 Racer
Racer's picture

You can't see the picture for all the smoke and mirrors

Thu, 10/23/2014 - 08:56 | 5366871 IANAE
IANAE's picture

<= Repubs prevail in midterms based on low overall employment stats, ebola, etc etc

<= Dems prevail in midterms based on low jobless claims, obamacare, etc etc

 

Thu, 10/23/2014 - 08:57 | 5366879 i_call_you_my_base
i_call_you_my_base's picture

The republicans will win because they rightly decided to push no issues and democrat turnout will be abysmal.

Thu, 10/23/2014 - 08:48 | 5366846 onewayticket2
onewayticket2's picture

it's all a set up for next week...right before the election.

 

it'll be a FANTASTIC number...."Lowest in XX years!!"

 

 

Thu, 10/23/2014 - 09:04 | 5366912 Rainman
Rainman's picture

Agree . Yet another conspiracy theory becomes fact.

Whisleblowers say census bureau numbers are faked.

                 http://nypost.com/2014/10/22/census-workers-manipulated-economic-data-new-whistleblower/

Thu, 10/23/2014 - 09:20 | 5366995 madcows
madcows's picture

That's a great story.  There's been little reporting on the missing BLS computers.  Amazingly they disappeared or were whiped clean.  Where's curt Gowdy on this?

Thu, 10/23/2014 - 08:56 | 5366874 Skip
Skip's picture

I've not seen the WSJ cover this, and this analyst's research goes back several years
August Jobs: American Worker Displacement Reaches Record High
By Edwin S. Rubenstein on

September 5, 2014

the August job data shows immigrant displacement of American
workers has spiked unprecedentedly—to reach a level unseen since
we started tracking it in 2004.
Employers added just 142,000 positions in August, the lowest
rate since December. It was the first sub-200,000 gain in six
months, raising new questions as to the strength and longevity
of the economic recovery. [Jobs report disappoints, by M.J. Lee
and Patrick Temple-West, POLITICO, September 5, 2014]
But a far bigger story springs out from the “other” job survey,
of households rather than businesses. Household survey data
indicates that the foreign-born share of U.S. employment was at
a record—not just for August but for any month since the start
of the Obama era in January 2009.
The Household Survey reports an abysmal 16,000 jobs were
created last month. Behind the anemic growth figure are two
enormous job shifts—a quantum rise in immigrant employment
coupled with an equally large decline in native-born American
employment.
In August
Total employment rose by 16,000, or by 0.01%

Native-born American employment fell by 643,000 or by 0.53%

Immigrant employment rose by 659,000, or by 2.76%
The gap between immigrant and native-born American job growth
pushed our New VDARE.com American Worker Displacement Index
(NVDAWDI) to a record high. The August spike is clear in the
following graphic:

Thu, 10/23/2014 - 09:34 | 5367054 therearetoomany...
therearetoomanyidiots's picture

Nice someone is pointing it out, yet he still clings to the fairy tale....

"as to the strength and longevity of the economic recovery."   

Thu, 10/23/2014 - 08:58 | 5366881 Dr. Engali
Dr. Engali's picture

It's tough when you get laid off from one of your three jobs.

Thu, 10/23/2014 - 09:00 | 5366900 Whoa Dammit
Whoa Dammit's picture

Employers are merely gearing up for record Christmas retail sales. s/

Thu, 10/23/2014 - 09:06 | 5366920 Devils Advocate
Devils Advocate's picture

I am starting to believe in the recovery.

Thu, 10/23/2014 - 09:07 | 5366923 Occams_Chainsaw
Occams_Chainsaw's picture

If only that pesky Ebola would spread some more....that will help lower the UE number.

Long coffins bitchez!

Thu, 10/23/2014 - 09:17 | 5366974 q99x2
q99x2's picture

I hate to hear about working

Thu, 10/23/2014 - 09:51 | 5366977 MrTerry
MrTerry's picture

the fed changes the way they gauge inflation almost on a daily basis  the latest one I like . going out side to measure the growth of the moss on the side of the fed building and then multiplying that by a factor of 1000 and then moving the decimal point,   and thus  there will never be a interest rate hike,

Thu, 10/23/2014 - 13:01 | 5367938 crazybob369
crazybob369's picture

Yet another piece of good news to explain why the Dow is up 200+ points. More people on the dole...bullish!!

Wait, did I misspell that?

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