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Initial Jobless Claims Drop, Remains Near 42 Year Low
Initial Jobless Claims dropped 12k this week to 267k - with no unusual factors - pushing the data back towards its lowest since 1973.
Everything is awesome.. but leave rates at ZIRP!!
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AAaaaaannnnddddd......it's HAMMER TIME!!
Yep tough to be jobless when you have 3-4 to make ends meet.
94 million....here we come!
I'm sure these low jobless claims have nothing to do with the fact that the labor participation rate is also at 1970s levels.
http://data.bls.gov/timeseries/LNS11300000
Squirrel!
Yes, they don't count you once they count you.
We could have 180 million unemployed and this useless metric would be "awesome".
I call top.
Give them better things to claim and unemployment claims will drop. It's fixed.
Initial jobless claims at 42 year low while unemployment is staggeringly high.
Every statistic about the US economy is now a lie as David Stockman looks at 5.5% unemployment:
At the present time, there are 210 million adult Americans between the ages of 16 and 68—to take a plausible measure of the potential work force. That amounts to 420 billion potential labor hours, if we accept the convention that all adults are at least theoretically capable of holding a full-time job (2,000 hours/year) and pulling their share of society’s need for production and work effort.
By contrast, during 2014 only 240 billion hours were actually supplied to the US economy, according to the BLS estimates. Technically, therefore, there were 180 billion unemployed labor hours, meaning that the real unemployment rate was 42.9%, not 5.5%!
Yes, we have to allow for non-working wives, students, the disabled, early retirees and coupon clippers. We also have drifters, grifters, welfare cheats, bums and people between jobs, enrolled in training programs, on sabbaticals and much else.
http://davidstockmanscontracorner.com/the-warren-buffett-economy-why-its...
SOOOOOOooooooo awesome of the Dear Leader Obama Recovery Summer VI. That more and MORE people are discouraged, quitting looking for work, becoming EBTites... How much "better" can things get?!?!?!
As Nanny Pelosi (at the time 2nd in line for the presidency after a mostly brain dead clown) said - The more people we have on welfare the better for the economy.
Yeaaaaaa gubmint.
Yep, the old Bugeyed Moonbat Sez... the more on welfare the better, and Obozo will get his 3% unemplyoment rate before he leaves.
If he does leave.
It doesn't matter, the fraudulent fiat money system is beyond repair. Megalomania simply has got its price. Even in NY and London.
In the mean time businesses are calling for more H1bs and Washington wants more people to flood into the US to compete for fewer jobs at lower wages.
Sounds like a way to unemploy even more Americans.
Welcome to the corporate Animal Farm.
Cool Beans baby.
Oh look, a squirrel.....................
Dats a chipmonk.
(Infinate circular arguement ensues)
Yup,got the script.
(canned laughter)
Almost every US multinational corp is stashing profits outside of US juristriction knowing the ponzi is up. I wonder if China's need for physical gold is related to stashed US corporate cash. Yuan inclusion into basket plus posible gold backing is the new confidence. Apples' 100billion offshore would buy a lot of the worthless relic.
http://www.bloomberg.com/news/articles/2015-06-17/wal-mart-has-76-billio...
Nationalizing assets is not limited to the United States.
Initial jobless claims are an indication that you can't lose what you don't already have. A factor of so many people out of the work force. This is not good news but will spun as such by President INequality and Grandma Yellen
ONLY 267,000 PEOPLE lost their jobs this week. Not bad. Rally on!!!
That's what happens during a recovery you dummies, Econ 101.
negative interest rate....negative unemployment!!! All things are possible to Obama....a Noble Prize having done absolutely nothing. A liberal Dream...rewards the rich like no one before...a HERO! We are through the looking glass. Foreclosure in my area are up....must be all the greawt headline news!