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Initial Jobless Claims Surge Most Since 2013
After last week's holiday-shortened exuberance over initial jobless claims, this week's slam back to reality is quite a shock to the "everything is awesome" crowd. Initial jobless claims jumped 31,000 to 313,000 - the biggest percentage rise since December 2013. Continuing claims dropped modestly but remain up around 3.5% over the last quarter - near the worst since 2009.
Trend has changed...
Continuing claims dropped modestly this week but the quarterly trend has shifted...
Charts: Bloomberg
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This will not stand!
The data must be adjusted to reflect our reality...
DaddyO
Give me another steaming cup of.......YES WE CAN!
I'm pretty sure the CPI is printing a big zero now. Moving in the wrong direction for that 2% inflation target. Better raise the cost of healthcare stat.
I'm considering entering through the southern border....and collecting the 35K the US owes me.
Who needs a damn job?
Yep we can send our whole family. Then pool all our money together since it was free and BTFD. If we lose all our money we head back to Mexico and repeat the process until we are Oprah rich.
The rules stated we could enter as many times as we'd like.......so we did!
You know whats funny about this? Someone could actually pull it off. The hardest challenge will be removing US citizenship. Once that is complete it BTFD time.
"slam back to reality"
Yes, the process of renouncing citizenship is archaic and slow. But the fee has increased 400%.
http://immigration.about.com/od/resources/fl/US-Raises-Pricetag-on-Renun...
I am considering running across the border in the opposite direction while yelling suckas to the mexicans crossing the other way.
The good news here is that the official unemployment rate has plummeted to 2.5% because Obama.
cool it with the doom and gloom people... you KNOW we're in a Huge Fucking Recovery!!!! (thank you president obama!)
Right? Maybe if we all had a more positive attitude, things would actually get much better
Don't worry they will all buy a solar powered Tesla with their handouts, and be able to power their shack for ever, and for free. So bullish for Tesla stock
And of course this will be bullish because weakening jobs will hold the Fed off longer
Paying the interest will slow the FED down forever.
Reducing the debt without any new income or "additional" taxes makes that inevitable.
The Dat means nothing buy the rise before you miss out by buying moar precious mtals. i actually heard that on the local news. Thats good for the sheeple
once again, I said this when QE "stopped" that all future econ reports would be weak, its the only way they can keep the QE 4 talk alive and keep denying a recession. This will continue until the end of 2016.
Yep. And if you thought Jan was bad wait until we see Feb's numbers. One "problem" they have is that they have pushed the economy is awesome meme so hard (please don't watch CNBC but trust me) that it will be hard to turn the train around
"denying a recession"
It is a depression. It began in 2008. SSI, FDIC and other government/bankster (FED) "insurance" is the difference between the 1930's and now.
jobless is such a 20 century concept..those who are not working for pay should be called: leasure maxed.
we just maxed a bunch more folks
Jobs now a days are often temporary unprofitable nuisances...by the time you pay off your steel toed boots, you can walk home in them with your pink slip..
its the weather
Yes, that is responsible for everything.
Very Bullish! DOW up another 100 points today.
Algos are set to job losses bullish.
http://www.foiredumans.com/media/wysiwyg/images/NY_culture/crise%20de%20...
Things must get better. I'm much more hopeful for a rate increase!
That Obama sure is bright, clean, and articulate!
it is all due to snow. spring is coming
It's Bush's fault.
The one person whom we can blame everything on
Winning!
Soon, the remaining 4 Middle Class families will need to be placed under "National Treasure" status as a relic of old times...what it was like in the old days as Smithsonian viewers walk past the locked display case showing off the four families ... what Merica used to look like ... right next to the extint brontosaurus and vanished Doo Doo bird displays.
Unadjusted claims still down 32K+ year over year. Let's see how this shale employment issue plays out over the rest of the year.
What you see isn't always what it is, guys: http://prestonclive.whotrades.com/blog/43879254051