This page has been archived and commenting is disabled.
Initial Jobless Claims Miss By Most In 2 Months, Continuing Claims Collapse To Lowest Since Dec 2000
After last week's plunge to cycle lows, initial jobless claims jumped 12k from a revised 282k to 294k, back above the average for the year. The trend of falling claims has now ended as it appears the end of government fiscal year and QE3 signalled the end of the claims collapse. Continuing Claims, however, plunged to it new cycle lows - now the lowest since Dec 2000.
Initial Claims bounced back to stagnant for the year...
As Continuing Claims hits new 15 year lows...
Charts: Bloomberg
»
- 8860 reads
- Printer-friendly version
- Send to friend
- advertisements -
To be fair, wait until we start seeing 400K+ numbers (and rising). Then it will be clear (but the market will already be tanking).
Always remember this is a deceng FUDGE FACTOR with these government numbers. They are highly subjective and often revised.
Claims miss by "most in two months."
Ye gads, the earth does quake!
Lose your 29.5 hr/wk job.....you don't get to claim crap.
The continuing claim drop clealy a plus +++ for consumer spending....................and very long lines at SSDI..................
These federal numbers crunchers know that, if any one of them reveals how doctored the unemployment numbers are, that guy will get fired.
Only fired?
Almost 100 million working age Americans no job.
(out of about 300 million people, that comes to 5% unemployment.....Common Core is great!)
But seriously folks, they have to run out of employees to layoff eventually.
Not seasonally adjusted is still down 11K year over year--so they say.
It's not hard to understand why continuing claims is low after they've expunged all the long-term unemployed from being counted. Now that the pig is through the python there's really not that much to count. It might look nice on paper but the reality is that so many now are just not counted and not employed with no real prospects for the future. Sort of like the walking dead.
Long term unemployment, irrelevant. Bringing it up in polite society is like saying Bin Laden wasn't really given an at-sea burial.
Those people are just crazy future-suicides, anyway. Why count them as potential capital?
And we believe these numbers?
Just askin cus.......
Why do u bother with these statistics? Everyone knows it has nothing to do with the all important stock market. As long as the sheeple see their 401k go up $35 per month and their cable TV works their happy. BTW, maybe the reason was the plumbing problems at Walmart
This is better "than expected"! Good for at least 100 points!
Is the drop in continuing claims due to increase in employment or
due to the long-term unemployed exhausting their benefits?
Much of the new employment created is off the books.
http://www.mylocalcrime.com/
Bingo.
Not to mention that in the new temp labor economy, people who manage to meet minimum requirements for base earnings during periods of employment to qualify for UIC are receiving lower payments for fewer weeks, since their basis used for benefit calculations is significantly lower than in the days of yore pre-2008.
We should be seeing fewer people quaifying, for shorter payment periods at lower benefit levels, as time goes on. I'd like to see these stats for the last 5 years . . . especially since the end of Federal extended "emergency benefits" a few years ago.
That said, nobody who has been unemployed for longer than a year qualifies for UIC in any state as far as I know and since the end of the Federal program none collect for longer than a year.
The infatuation with beat or miss is infantile. Just look at absolute numbers. We all are happy to accept that rational expectations hypothesis doesnt apply in markets, but the market seems to want to think it applies to data releases. Its ridiculous.
"infantile" I always liked that word.
An infant just fulfills it's basic needs and wails in discomfort when they are not met.
The same way the oligarchs only basic need is for more and more wealth and power. And they wail in discomfort when this need is not met. (and perhaps nail gun a few politician / lackeys)