Initial Jobless Claims Drop Back Below Dreaded "300k" Level

Tyler Durden's picture

After last week's initial jobless claims drop - which nevertheless held the 4-wk average above 300k - this week saw the number drop once more. Against expectations of 290k, claims printed 282k, leaving the 4-week average at 297k, conveniently below the 300k mark. Continuing claims continues to flatline at an elevated level. This means that since the end of QE3, initial jobless claims are unchanged as the trend of improvement has clearly stalled.

 

 

Trend change... in initial claims

 

And continuing claims...

 

Charts:Bloomberg

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new game's picture

i call bullshit, layoffs every which way i look...

GMadScientist's picture

There's some latency between when people get their pink slip and when they claim, I would think.

GetZeeGold's picture

 

 

I propose a rew report that just shows 40hr/wk jobs.

 

Can we get someone on that?

dimwitted economist's picture

"Only" 288,000 New Unemployed in a Fucking WEEK? Wow... i guess in the (New Normal) this Recovery is AWESOME! thank you president obama!

Space Animatoltipap's picture

Quality of jobs, type of contracts, hours worked?

taketheredpill's picture

 

 

The Jobless Claims numbers are far less useful than they used to be.  In previous cycles Claims dropped as people found new jobs.  In this cycle Claims drop as the 99-weekers reach the end of the claim period.

 

 

 

ajkreider's picture

See definition, "continuing vs initial".

GMadScientist's picture

Chair counting: pointless. Agg income or bust!

ajkreider's picture

Yes the trend has stalled, at a level lower than the 70s and 80s job recoveries, despite a population 100 million larger.  Just enjoy some good news, people.

Falconsixone's picture

Huh? Is that the last of the working workers?

insanelysane's picture

DAMN IT!  Forgot it was Thursday and didn't rub sunblock on my ass to prevent burning from .gov blowing sunshine up it.

KansasCrude's picture

My brother along with several hundreds of others were laid off voluntary or involuntary and got severance packages for up to 1 year from Sprint.  Since he is still on the payroll he won't show up as unemployed until his year runs out in November.  At that point he can file unemployment and will be counted.  He was tired of the never ending layoffs in the last + 10 years I think he counted over 20 rounds.  He was highly confident he was going to be able to get another job and "double dip"  for several months.  Well after a couple of interview rounds  where he made it to the final round with other employers he is getting nothing going.  Still has around 7 months to go but not as optimistic as he once was.  Not admitting he made a mistake and still sure he can get back on with Sprint if he wants.  For his family's sake I hope he gets something in time to do the double dip or back on if he can't.  He late 40's so starting to wonder  if thats impeding his disirability.

Either way he is now believing the economic improvement story is more B.S.. But since they were told this would be the "last" of the generous severance packages wanted to check out the market. 

Evil Franklin's picture

Layoffs, Bankruptcy, Closings, Oh, my.

http://www.dailyjobcuts.com/

Colonel Klink's picture

The grand theft farce continues...