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Initial Jobless Claims Average Nears 40-Year Low

Submitted by Tyler Durden on 10/30/2014 08:39 -0400

Initial claims rose a very modest 3k this week but it does little to change the overall picture of a jobs market where there is no hiring and therefore no firing. The 4-week moving average of initial claims has only been lower than this once in 40 years. Is it any wonder the FOMC is stuck with its hawkish perspective... Continuing claims rose 33k to 2.384 million, missing expectations by the most since August - but still hovering near cycle lows.

But perhaps more stunning is that we have only been lower than this level of average claims once in the last 40 years...

Continuing Claims ticked up very modestly, missing by the most since August...

Charts: Bloomberg

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Thu, 10/30/2014 - 08:43 | 5393043 Dr. Engali

You can't file for unemployment when you get laid off from one of your three part time jobs.

Thu, 10/30/2014 - 09:07 | 5393180 tarsubil

Good thing there was an end to the business cycle otherwise we might be in big trouble.

Thu, 10/30/2014 - 09:26 | 5393285 NotApplicable

Soon there won't be any jobs left to get laid-off from, and it will be heralded as the arrival of Utopia.

Thu, 10/30/2014 - 09:37 | 5393338 GetZeeGold

You have to have to job to lose before you can make a claim.

Thu, 10/30/2014 - 09:51 | 5393407 schatzi

A very long term comparison in absolute terms is pointless, as the population has doubled in 50 years. A per million pop. would give you a better picture.

A comparison to 1980 would most prob. correspond to a number more akin to 500k initial jobl. claim.

Thu, 10/30/2014 - 09:12 | 5393203 Aeternus

Yes, you also can't file for unemployment after it has run out. Which means that you can't be counted as unemployed = unemployment rate has magically fallen.

https://www.youtube.com/watch?v=p6JQTUGVcqk

Thu, 10/30/2014 - 08:44 | 5393045 The man with po...

Economic repression bitchez.

Thu, 10/30/2014 - 08:44 | 5393047 stinkhammer

DAMN IT! JANET! LET'S GO SCREW!

Thu, 10/30/2014 - 09:44 | 5393366 CrazyCatLady

Or maybe we could just do that time warp thingy again

Thu, 10/30/2014 - 08:48 | 5393057 hotrod

Those other lows were truely good times. Eveything today is warped.

What happended to all those NJ Casino workers? That sure got quiet quick.

Thu, 10/30/2014 - 08:52 | 5393076 cloudybrain

recovery is going well
its time to invest in the stock market

Thu, 10/30/2014 - 08:53 | 5393088 dontgoforit

Guess I'll go out and get me a real job since things are so great. Oh, I forgot, they don't hire people over 60.

Thu, 10/30/2014 - 08:57 | 5393098 replaceme

They also don't hire 25-54s. And under 25 is really tough. You in a non-White demo? That's death for job hunting. But good luck.

Thu, 10/30/2014 - 09:00 | 5393112 new game

at 58 i'm all good for a mex illegal imigrant 10/hr job that once paid 20? thanks a load, i mean shit load for the recovery...

overqualified? huh, oh, let me delete that college education, sorry i'll modify my resume and resend...

Thu, 10/30/2014 - 11:29 | 5393776 blown income

44 riding shotgun

Thu, 10/30/2014 - 09:01 | 5393134 Singelguy

So how many people were NOT counted this week?

Thu, 10/30/2014 - 09:05 | 5393157 SickDollar

every number is going to look good due to the elections

Thu, 10/30/2014 - 09:17 | 5393232 Chief_Illiniwek

Given the source, what is the tangible value of "employment" statistics...other than amusement?

Thu, 10/30/2014 - 09:21 | 5393252 Aeternus

The tangible value is less than this spec of gold I found prospecting.

https://www.youtube.com/watch?v=Od9D6TECSa0

Thu, 10/30/2014 - 11:35 | 5393811 DullKnife

I too panned for gold in California's (former) Gold Rush country!

And unlike you who only found a spec of gold, I found TWO specs of gold!

100 more specs and I can buy a cup of coffee!

Thu, 10/30/2014 - 09:19 | 5393244 SethDealer

we are kicking ass, a full 58% of americans 18-65 work !! the other 42% mooching

Thu, 10/30/2014 - 09:26 | 5393297 oddjob

...and more half of that 58% work for some branch of government.

Thu, 10/30/2014 - 09:27 | 5393294 IRC162

I fuckin love election season.

Lick your bowl clean, bitchez.

Thu, 10/30/2014 - 09:29 | 5393313 Ignorance is bliss

I want to be an overweight TSA agent or an armed IRS agent when I get done with College in 10 years or so.

Thu, 10/30/2014 - 10:22 | 5393532 frankly scarlet

Is this Shadow Stat's take, or just the usual suspect figures in which case the headline banner should read unemployment nearing Great Depression highs all things considered....

Thu, 10/30/2014 - 10:47 | 5393606 starman

BLS no longer reports lay offs!

Thu, 10/30/2014 - 11:31 | 5393785 DullKnife

Bound to happen sooner or later....no jobs.

Can't get laid off from a job you don't have.

Therefore, when we have full unemployment, we can have full employment.

(if that makes sense to you, then you are ready to be on the Fed or run for President)

Thu, 10/30/2014 - 12:53 | 5394289 Last of the Mid...

Everyone is employed and at least one of your part time jobs should be flipping burgers, so you should't go hungry. If you're not flipping burgers, you're grossly under taxed and that will soon be remedied such that burger flipping will become attractive. Other than that ESAD!@

Thu, 10/30/2014 - 12:54 | 5394306 Last of the Mid...

Funny how all of a sudden there are NO ebola patients in the new anywhere in the world. Virus must have got the memo to hold off till after the elections. wow.

Thu, 10/30/2014 - 15:25 | 5395162 limacon

"The natives aren't restless tonight . It is quiet . Too quiet ."

"What ?"

The wrath of unintended consequences .

"Sheeple wear Wolfskin !"

See

https://www.academia.edu/9031355/The_Were-Sheeples_Almanac

http://andreswhy.blogspot.com/2014/10/were-sheeples-almanac.html

Initial Jobless Claims Average Nears 40-Year Low

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