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Initial Claims Hold Worst Levels In 6 Months As Shale State Joblessness Re-Surges
After some 'stability' in the last few weeks, initial jobless claims in the major shale states has started to rise again with Texas the most impacted for now. Overall initial jobless claims rose very modestly to 291k, but leaves the 4-week average above 300k for the 2nd week in a row - the first time in over 6 months. Contonuing claims rose modestly also, confirming the change in trend from improving to stable-to-deteriorating again.
Overall initial claims hovering at its worst level in over 6 months...
Texas Initial Claims are starting to ramp up again
Charts: Bloomberg
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LOL, their running out of places to store the oil. The US usually decides to fill it's strategic reserves during peak oil prices.
You don't need us to tell you that gas prices are back on the rise...
https://www.youtube.com/watch?v=dAkxR9T01pw
They can soak up another 40M bbls, but thats it. Cap is about 720Mbbls and they are sitting around 680Mbbls
They can store the oil in some of the dry reservoirs .... like Lake Mead !
Dont worry about those jobeless #'s. They will just "seasonally adjust". You know, because its like a cooking show and shit
Nothing to see here, go to Starbucks and convers with your barrista about race relations. You have to prioritize the important events in society in order to advance through this dep.. . . err recovery
AWESOME news!!!! (according to some)
As Nancy Pelosi, former Speaker of the House (D) says: The more people we have on welfare the better it is for the economy.
'Race relations' can be distilled down to this:
Whites = bad.
Every other color = good, or they've not yet ascended to the hierarchy of 'preferred minority status'.
Blacks = Best.
Self-hating whites ready to sacrifice their 15 year-old daughters to a pack of Thug-life types = Special dispensation.
$40 oil does NOT equate to $2.25 gas. sorry but i know better.
I see many bartenders and waiters coming to the Lone Star state.
And gentlemen's clubs ;)
Part of the problem is that kids go to school at U of TX, graduate and then refuse to leave Austin, even if it means waiting tables or tending bar. Some of then actually have marketable degrees besides underwater basketweaving that they paid a pretty penny for.
They'll make the best of it: "Best service in the 50 states!"
That's what an ex-wife told me .... "I've been seeing someone !" !
Joblessness....word
Lower chart is mislabeled.
Yea I was about to say...wow WTI is much pricier than I thought...
Or miscolored.
And don't forget the Boomtown Hookers .... "Blowjoblessness" !
Cheap petrol for my Hot Rod, a dream come true. Now all I need is a job to have money to fill up the tank.
Forgot to use the real chart instead of the "yellen" chart
Soooo, this means the unemployment rate has gone DOWN another few tenths of a percent........right?
A vice business succeeds longest in any "ism" system.
The people's discernment of bullshit is very impressive.
They ultimately need a place to go to numb themselves.
Is ZH a vice business?
LOL.
Keep the doom porn coming Mr. T.
HIGHER UNEMPLOYMENT ALWAYS BLAMED ON WEATHER, OBAMA CONSIDERS BANNING THE WINTER
The White House wants to impose sanctions on Winter, to discourage it from affecting key economic indicators in the US.
Source: www.financialpaparazzi.com
not a chance. its the best cover they've got.
This is a decent article that outlines job losses in the oil & gas sector.
http://www.forbes.com/sites/christopherhelman/2015/03/16/oil-layoffs-ite...
excerpt:
"I’m told by people who operate a lot of drilling rigs that for every rig mothballed about 40 people lose their jobs."
This getting comical now. Despite the supposed mass shedding of shale jobs, initial claims have barely moved. How about this headline:
"Initial claims remain at lowest levels in a generation!"
Mopes
The numbers are good enough for gold to continue to the toilet and for equities to go through the roof.
Shale jobs and fracking jobs are mostly 1099 contractor jobs. They won't show in BLS unemployment numbers.
not really. the roughnecks are ussualy employees. a lot of the service company people are, but thats not most of the people.
Series labels are reversed on the last chart.
Looks like I'll not be going to North Dakota to make money and hang out with hookers this summer so I signed up for studying the the later plays of Shakespeare at UCLA.
Even if they're "just" contractors (who still have bills to pay), it shouldn't be too long before we see the second order effects in all of the service jobs that arise to provide the "lifestyle to which they have become accustomed."
It beggars belief that we could lose a sizeable fraction of the economy and not misplace more than a couple thousand real jobs.
After oil collapses I cant wait to see what is left of the Texas economy.
10 15 bucks.