This page has been archived and commenting is disabled.
Initial Jobless Claims Surge To 10 Month Highs, Worst Start To A Year Since 2009
Following this morning's dire Challenger Job Cuts data, it appears the hard reality that lower oil prices are not unambiguously good for America is setting in. Initial Jobless Claims surged last week (after a big jump the week before) to 320k (far worse than the 295k expectation) to the highest since May 2014. Non-seasonally-0adjusted claims surged 29,361 to 310,000 making 2015 the worst start to the year for claims since 2009. Continuing Claims also rose. Since the end of QE3 and the end of the government's fiscal year, the trend of improvment has clearly ended and a new regime of weakening labor markets has begun.
The trend has changed...
This is the worst start to a year since 2009...
Charts: Bloomberg
»
- 7916 reads
- Printer-friendly version
- Send to friend
- advertisements -
My country tis of thee?
My country Did to thee!!
Time to change the way they calculate the unemployment stats again...
Ha. MSM ticker this morning "employment improves in all 50 states for the first time since 1984."
How apropos that they give a nod to Orwell by mantioning their operator's manual...
Are they telling us something with the 1984 year, is this "new speak"
"employment improves in all 50 states for the first time since 1984 although some minor indicator was said to have come in a tad softer than some had expected."
Spun it for ya.
Sweet land of Poverty !!!
Huh.......thought for sure Obamacare and Amnesty would fix this.
Sweet land of bullish greed.
Ah, the phrase "continuing claims," something I remember with disgust from many years ago. Unemployment Insurance is all computerized now, no more need for the out of work to show up at their local UI office in person to sign up for benefits. No more long lines as UI clerks validate punch cards for each claimant, cards used to prepare their UI checks mailed from Albany. In 1976, the maximum UI benefit in New York was $95 a week, all untaxed income. For $150 a month, you could rent an apartment. 50 cents got you a subway ride. Assuming thieves did not swipe your mailed UI check from the mailbox. Now, thanks to computerization, there are no jam packed UI offices, no EB (emergency benefits) or XB (extended benefits for weeks 39-65) or CETA benefits, nothing but total UI numbers that are pretty meaningless. In New York, the guy who finally got rid of all local UI offices and moved the claim processing to a centralized office building in upstate New York (owned by a connected Republican) was Labor Commissioner John Sweeney, part of Governor Pataki's political elite. Years later, just a lawyer, Sweeney accepted a sentence of several weekends in jail after being convicted of drunken wife-beating. That figures, considering his track record.
My country tis 'bout me
- King Barack the One and Only
Walmart just gave out Raises so that should help with this...
It doesn't matter. Although weakening against every other currency the Dollar is "oddly" on fire against the JPY. "They" decided last night that they want the market to go up and nothing else matters
NSA has been trending up for a few months...just takes time for the SA to catch up. Seeing the labor costs spike and productivity plummet isnt a positive either. Looks like the next down cycle is in, and the Fed is fucked.
the fed is always the fuck-er, never the fuck-ee
time to get to work mr yellen. congress should add a savings tax, which you pay on savings but are exempt if you invest in the market and keep the money invested (capital gains of course will apply)
Seems we are in the more job cuts are bullish mode.
2009 was fun! Lots of people walking around with that WTF look on their faces. Sales of anti-depressants soared!
Why won't the government just give everyone a job? Isn't that why we elected them?!?!? Gee whiz, sometimes I think the government isn't as useful as the TV tells me...
something new in my area: bums on most street corners with signs asking for money for food - some where even out in a rain storm beating on car windows for cash..I'll give em that, they showed get up and go being out there in that weather..more stores closing more for sale signs , poorly maintained streets - more gang kids -more homeless shelters and still they are out on the street..and this is small town america not times sq.
something even newer in my area is some young women with husband and 2-3 little kids behind her as she holds a sign begging for money. They're different every day--white, Mexican, even some Paki/Indian looking ones. The Blacks seem to have dibs on another intersection. None are ever aggressive; in fact, they all seem pretty subdued.
It's pretty sad to see so many fairly young people begging these days.
Agreed, the demographic has changed here as well. I've seen construction worker types 25-40 olds and many younger women. Panhandling at gas stations is common too. I rarely go out in public now without someone asking me for cash in all age and social statuses and this is in regular areas in San diego.
How any one can believe the MSM there is nothing wrong is beyond me. You'd have to be a shut in not to see this.
Miffed
http://www.huffingtonpost.com/2014/11/17/child-homelessless-us_n_6169994...
Just more good news for the phoney market. Go Green you fools!
This is just a transition period as all of those newly unemployed retail sales clerks retrain to mix cocktails and wait tables in the new, booming service economy. Second half employment numbers will be gangbusters.
/sarc
Did they finally add the Oil jobs, the Radioshack jobs (rolled by one Tuesday and it was already gutted), the Macy's jobs, etc?
I wonder if they keep them on the bookie's real file so that when a report coincides with something "good" (Drahgi) they can dump bad numbers.
When it gets bad, you have to lie.
<sigh...> Bullish.
As Nancy Pelosi said: The more people we have on welfare the better it is for the economy!
Yawn.
This is completely expected fallout from the oil patch. Economy looks like it's in a strong enough position for a job washout in that sector, which was in bubble territory anyway. Probably good long term to no be so reliant on the energy sector.
Color me worried if tomorrow's job numbers fall below 100K.
Just popped out to the Bakken for a brief trip, you haven't seen anything yet. Equipment laying everywhere in yards, rig count down to 115 as of yesterday will be 100 by the end of next week. The ripple effect is just beginning. Even though I knew it was coming seeing the human toll is just sickening.
Its putin's fault
Or
Who is john gault?
(Help save russian jews,
Collect valuable prizes)
Banks and credit unions united Wednesday to squash a bill that would have limited credit-card transaction fees they can impose on Colorado businesses.
http://www.bizjournals.com/denver/blog/capitol_business/2015/03/banks-bu...
My advice: stay out of debt!
NSA claims down 7K year over year. Not a problem...yet.
When the tough quit working the Q99X2 gets a going. Working and going to college full time. What do you do they ask. I try I say I try.
Are we ever going to recover from this recovery?
Good one. You have a way with words. :)