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Continuing Claims Surge Most Since 2009 Over Last 6 Weeks, Initial Claims Miss

Submitted by Tyler Durden on 01/08/2015 09:40 -0400

Initial claims dropped 4k on the week but missed expectations, printing 294k (vs 290k exp). This is a level first seen in July 2014 as the trend of improvement has ended for claims (the biggest 3 month rise in over a year). Layoffs were dominated by MI where manufacturing and waste management industries suffered (and Texas saw fewer layoffs but a shortened workweek). Perhaps more worrying, the continuing claims data surged by over 100k to 2.452 million (stunningly on a non-adjusted basis continuing claims surged 407k).

The trend is over...

biggest 3 month rise in over a year

Continuing Claims have biggest 6-week rise since 2009

Texas shortened workweek...

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Thu, 01/08/2015 - 09:43 | 5636476 VulpisVulpis

Truth doesn't matter.

Thu, 01/08/2015 - 09:49 | 5636487 Pool Shark

Laid-off again?!

Great, now I'll have to get another part-time job...

Well, I guess since the lost jobs were mostly in Waste Management, that's not such a bad thing.

After all: "A Waste is a terribble thing to Mind."

Thu, 01/08/2015 - 09:51 | 5636498 GetZeeGold

Anything on the non-participation rates yet?

Thu, 01/08/2015 - 10:54 | 5636800 JMT

The 'Participation Rate' for those over 25 with a college degree is over 80%... The bleeding heart media is focused on the non skilled, immigrant or colored service workers but if you have a college degree, keep legs closed and not have or 'father' children until you can financially afford it and conduct yourself in a way that shows some class and education you will be fine.

Thu, 01/08/2015 - 12:25 | 5637230 Pool Shark

"...you will be fine."

Right. Until the government takes half your income, regulates you into a box, drives home prices too high for you to afford to live in anything but a cracker-box apartment, forces tuition costs up requiring you to take a 2nd mortgage on that cracker-box to afford your kids' college, drives medical costs up and fines you for not buying the insurance you can't afford, and finally winds-up means-testing your social security so that since you earn anything greater than the minimum wage you get no benefits.

Good luck with that...

Thu, 01/08/2015 - 10:54 | 5636801 JMT

Thu, 01/08/2015 - 10:30 | 5636678 Stoploss

http://research.stlouisfed.org/fred2/series/LNU01327662

Thu, 01/08/2015 - 09:52 | 5636495 TruthInSunshine

Take a good look at the METRIC SHIT LOAD of restaurants, apparel stores, and other retail stores closing currently, as well as the massive # numbers of seasonal workers now being laid off or who are getting hours slashed.

Blood bath coming.

www.dailyjobcuts.com

Thu, 01/08/2015 - 10:29 | 5636679 hotrod

My friend and I, 50 and 55 respectively, both Univ of Ga grads are unemployed. We could drive a truck like one of our friends, long haul 500 miles a day to make a very basic amount of money but I could not sit that long every day. Would go nuts. However, my local Home depot has a sign out that they are hiring so I may go appy there. Guess that will keep food on the table, little else.

I am very surprised that gold is not forcing the Feds interest rate hand. It is the fiat antagonist. US wants reserve $ status then earn it. We cant. Gold should be rising every day threatening the dollar yet it is caged. Manipulation like everything. Amazing how Volcker was able to raise rates so high back in 1980 to defend the dollar. When does the market say PUT UP or SHUT UP?

Thu, 01/08/2015 - 11:50 | 5637080 insanelysane

Most people with college degrees have desk jobs where you sit all day so I have no idea why you can't sit in a truck all day.

Thu, 01/08/2015 - 12:37 | 5637303 JMT

Oh you poor baby..... Can't 'sit that long' LOL!!! I am sure you can 'sit and text' on your Iphone and I am sure you have the flat screen TV, Iphone, buy $200 cross training sneakers every week..... Seriously, most of you 'recent college grads' have this extreme sense of entitlement and think that you are the shit because you graduated college (a state school no less)

Thu, 01/08/2015 - 09:53 | 5636486 papaswamp

Hey ZH.... Might be time to show the NSA graph of claims on the BLS page. Looks like the bottom hit end of October.

Thu, 01/08/2015 - 09:47 | 5636493 Seasmoke

The spread is too wide. Trouble coming. If you have lots of wealth. You would be an idiot to flaunt it now.

Thu, 01/08/2015 - 09:59 | 5636540 negative rates

And i'll double your trouble, pick your rick, drink up your beer, sell your gold, and wait for your call.

Thu, 01/08/2015 - 09:46 | 5636494 buzzsaw99

There will be no interruption of our permanent prosperity. [/birtchez]

Thu, 01/08/2015 - 09:49 | 5636500 wmbz

On the right track, this must be viewed as a positive. Very bullshitish!

So, a greater number of folks that will have more time... "for family and shopping" so sez the Bugeyed Moonbat Polosi.

We can do much better than this, let's get these numbers up!

Thu, 01/08/2015 - 09:49 | 5636502 SheepDog-One

Fed now back peddling wildly....'Hey no worries, forget all that 'rates rising' stuff, not gonna happen in our lifetimes!' LOL

Thu, 01/08/2015 - 09:49 | 5636503 yogibear

Bulllish.

99% chance for QE 4. Bulltard already mentioned it.

Thu, 01/08/2015 - 09:54 | 5636516 GetZeeGold

Remind me....who gets all that QE cash again?

Bonus question.

Where does it all come from?

Thu, 01/08/2015 - 10:01 | 5636549 negative rates

We know who doesn't get it, and that's what counts in the end.

Thu, 01/08/2015 - 10:08 | 5636576 max2205

Long paper pulp

Thu, 01/08/2015 - 09:53 | 5636517 Ness.

I believe that every US data point in 2015 has been a miss excpet ADP (small beat). Is that why spoos are up 60 points from Tuesday's lows? Thanks FedSpeakers - you guys are reallly smart. Everything is awesome - everything is cool when you're part of a team!!!

Thu, 01/08/2015 - 09:59 | 5636531 cowdiddly