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Chicago Fed Contracts For 4th Month In A Row As Initial Jobless Claims Hover Near 40 Year Lows
Initial claims rose very modestly this week but the smoother 4-week average hit fresh cycle lows at 271k - just shy of the lowest level since 1973. Continuing claims also fell to new cycle lows at their lowest since 2000. It appears, as we have noted previously, that peak job-related cost-cutting has been achieved. However, it's not all unicorns and ponies... as Chicago Fed National Activity Indicator printed a disappointing -0.15, the 4th month in a row of contraction.
Jobless data says everything is awesome...
But Chicago Fed says all is not well...

The CFNAI Diffusion Index, which is also a three-month moving average, was unchanged at –0.12 in April. Thirty-eight of the 85 individual indicators made positive contributions to the CFNAI in April, while 47 made negative contributions. Forty-six indicators improved from March to April, while 37 indicators deteriorated and two were unchanged. Of the indicators that improved, 19 made negative contributions.
Charts: Bloomberg
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Every event is a good excuse for...
HAMMER TIME!!
Jobless Claims Hover Near 40 Year Lows93 million Americans are so greatful for that stat.
They must be so appreciative of having been relieved of the burden of work. Now they can go write that novel they've always wanted to try, or do charity work (feeding their own family), or take a Yoga class.
Selling paper gold and buying stawks on every newz announcement, regardless, is doing god's work.
Says so in the Torah.
New Maff vs simple arithmetic.
Caged death match.
My question is, how are these people surviving?
Easy, my parents retirement community is filled with 40 year olds living with mom and dad, that's how.
Fine Young Cannibals will soon be providing the mood music.
Barry,
I was asked that question on the radio last week, and had to answer that to my knowledge there are no good statistics on where the missing 92 million are. I pointed to the rapid increase in the disabled population, driven by people getting a medical diagnosis for their very understandable depression and anxiety and those who are disabled but would be working anyway if they could count on anyone hiring them, but that accounts for only a part of the 92 million. Beyond that I shared some anecdotes, but all I could say statistically was that if the death rates aren't being massively underreported they're out there.
If you could document what's going on in your parents' retirement community and put a number on it - say, 50 elderly housing units housing 70 elderly and 17 adult children - it would be contribution.
Not easy, because doubtless they are at risk of losing their homes or subsidies if they get found out. But if you can figure out how, I will add it to my bag of "anonymous micro-statistics" - or "statistical anecdotes" - which begins now.
Chicago is the world capital of consulting companies.
Chicago is the home of the great Kennedy vote swindle.
Chicago is or is close to the murder capital of the US.
Chicago is home to th echicago school of conmen.
Ergo, nothing good comes from chicago. Even wriggleys make you chew the cud.
All fall down....humpty...
Are you ready?
https://aadivaahan.wordpress.com/2015/05/21/are-you-ready/
Don't forget hostage taking, they will never have enough money to repay that one.
What about Abe Froman?
The Sausage King of Chicago?.....
Your daily awesome ration has been increased to four hallelujahs. All hail Big Brother.
How many "Yes We Cans" are we limited too?
Cause once I start, I just can't stop.
As many as you can squeeze into the Two Minutes Yes We Can.
It was always going this way, waiting for the bottom to fall out after dismal Christmas sales, maybe this time is the one.
amazing how long they can extend and pretend
Chicago is BANKRUPT morally & financially!
Ahahahahaha! No one believes anything or anyone from Chicago!
I like it when the Tyler's chart initial/continuing claims against the S&P500. The inverse correlation is awesome.
that right there is the very heart of the propaganda machine
92 million unemployed but the UE Rate shows full employment - GNP calculation in process of being changed - double seasonal adjustment - to show robust growth - Factory Utilitzation Rates will go up as the factories that are permanently closed are no longer counted in Utilization Rate %.
and the Fed buys the S & P Index at the margin at 3:45 PM each day to keep the market up permanently to reflect the Fake Metrics
The perfect artifical virtual economy.....forever!
Inital jobless claims are now absolutely useless.
As we know most of the jobs created in the last 6 years are part time jobs. People need a couple or three of them to keep bread on the table. So when one of these part time jobs are laid off the person still has another job so the layoff isn't reflected in the data as the person is technically not employed as they have another job so they are not counted in intial job calims.
Just wondering, is bad still good?
Bad is good and good is good ! What could possibly go wrong? BTFD !
you may lower your marginal costs to the last penny as every other producer might as well, but you will not have an economy with consumers willing and able to buy your product in volumes enough to keep you in business. Now if your business is the derivatives market then a single asset class such as sovereign debt will fuel positions to reach the stars and all the rest doesn't matter one bit.
Please go down to your local HDepot or grocery store every other day and you'll find the answer to who works how. much they work and how old they are!
I can't give this away you have to see yourslef!
I do find it sad and pathetic.
Fuck you Berry!
Progress is proceeding full speed ahead to eliminate the windows and bars on the ground floor of the Chicago Fed and brick them in.
Look at the brght side: The good news is that when no one is working, there won't be any more jobless claims!