This page has been archived and commenting is disabled.
Initial Jobless Claims Spike To Highest Since Feb, Near Crucial 300k Level
Initial jobless claims have surged almost 30k in the last 2 weeks and are nearing the Maginot Line of 300k (printing 297k vs 285k exp). This is the worst claims print since mid-Feb and well above the levels that occurred at the end of QE3. Of course, apologists will note that there are likely holiday distortions in this data. At the same time, continuing claims continue to rise quite notably, now at their highest since mid-March having missed expectations for the last 7 weeks.
The trend has clearly shifted.
But continuing claims have seriously changed regime...
Charts: Bloomberg
»
- 11292 reads
- Printer-friendly version
- Send to friend
- advertisements -
who is left to fire since people never got their jobs back??
But hey, gays can marry now, 0Care will fix you, and TPP will coddle the corporations. Thanks, progressives!
It's the fucking weather. Just wait for all the construction jobs after the residents of Compton burn the dump down this summer in concert with the official administration brotherly love program.
That's right then climate change, aw screw it we're back to global warming now, global warming will be blamed on guns. So Barry will take your guns while trumpeting the fact that gun confiscation preceded every genocide in the 20th century according to the University of Hawaii because there are too many people! Big Brother loves you.
raise interest rates, you fuckers, I dare you.
This will be ignored, and when they don't raise rates, theyll swear they were really going to, since the economy is doing so great and all, but then those pesky greeks and chinamen ruined it.
Yep... it was a tad cooler in June that expected. Nobody dared go outside. Therefore no buying, no jobs...
+.08 on the 10s.
Weather and heterosexual whites.
Don't forget that the weather was outstanding out west so that would explain the lack of production and dwindling workforce. The weather was TOO AWESOME to go to work. Instead it was far too important to go out and enjoy nature foregoing the shackles of labor....
sarc off//
Mark the ~2 week span in which the bills you highlighted, along with a spike in his approval rating, as 'The Top'... Arrogance rides highest right before an arrow falls the horse.
You forgot about the nation's preoccupation with Caitllynne Jenneifer. What's more progressive than a guy with a 38C cup? On his chest??
not many angry right-wing white men that's for sure!
And anyone guessing the initial response in the US pre-markets wins a prize...
DavidC
Stocks making new highs on this wonderful news. LOL
We're in day trading territory now. Fade the highs and, if you can stomach it, buy the lows. Wait for the range to be broken.
We're in fucking Lala land. DOW futures are up 180 points this morning - what did i miss other than China threatening to arrest sellers and initial claims much higher than expected and the IMF just cuts growth forecast - yet another reason to buy? These are not markets - CB's are playing a game of risk with fake money and peoples lives. Charts, ranges, support/resistance - give me a break.
Get out while you can still sell and give your family a hug. This is nonsense.
Isn't that the answer, along with the BTFD. If all of china can no longer short the market, it can only go higher. Oh, and the mass internet outages weren't cyber attacks. Those poor bots couldn't buy the low for 3 1/2 hours. They're jonesing for it. It'll be up 350 pts at 9:35.
How many times are jobless claims seasonally adjusted?
The truth that we are still in a recession since 2008 must be protected by a phalanx of lies.
Let's not forget that the Chapwood Index for 2014 was 9.7% and official CPI in the land of the free was only 0.8%. So the Nominal GDP of 5.6% for 2014 becomes real GDP of -4.1%.
The revised real GDP for years 2011 to 2013 worked out to -6.2%, -6.5%, -6.5% respectively.
What is the Chapwood Index?
"The Chapwood Index reflects the true cost-of-living increase in America. Updated and released twice a year, it reports the unadjusted actual cost and price fluctuation of the top 500 items on which Americans spend their after-tax dollars in the 50 largest cities in the nation."
http://www.zerohedge.com/news/2015-05-29/inaccurate-statistics-and-threa...
Yikes, that is some awful data.
The index needs a flashy name to catch hold though.
I nominate "The Puckered Sphincter Index."
pods
FWIW, non-adjusted claims are down YOY. Too much effort expended on this weekly nugget.
it's going to ramp this summer and fall. remember....there's an election a year from Nov....gotta get the numbers lined up for a "Much improved" "it's all coming together" "dont switch horses now" storyline.
The weather was too hot, I mean too cold, or was it too humid? It must be global warming's fault.
https://goo.gl/AgTCFE - Bernie Sanders isn't going to save America
Whats your next article? "Ice cream tastes good."
I'm sure its much higher than reported, but hey the world markets are green once again so were good to go right?
I wonder if one day you can kind of franchise a laborbot as a way to make your money? A new way of investing perhaps. Selling out your robot's highly efficient labor and calculations.
My portfolio just hit another ATH... what more do I need to say??
And I'm not shorting or anything, just a keeper...
This is so utterly fucked up, I just wanna pull down the curtains... yet I guess I'm one of the winners?!
Better turn off this parall reality before it drives me nuts.
Have you converted your paper gains to hard assets? If not, you have won nothing. You sound a lot like sheep bleating in the wilderness.
Hah yeah, because selling, paying tax and having a lot of local currency sounds like a great idea.
Gold is already stacked, but going all in metals sounds..well... not like a winning strategy eighter. Time will tell.
wtf Tyler, you know that data is BS anyways. friggin' BLS propaganda. actual total folks not working against total population is what we're looking for. but whatevs
Um, why is 300k a crucial support line. Is that when algos kick in?
It's when we'll have more unemployed people than the entire population of Spain and Italy combined.
'Murica!
Rate hikes off, zirp or nirp to infinity.
QE4 = free hamburger Tuesdays at McD's.
I'm comforted by the fact that the people getting these continuing bennies will eventually run out of them, age off the chart. These numbers look bad, but time will make them look better. Good numbers make people happy, and that's all that matters. Double pluss happy.
just to be clear, that was sarcasm - i don't like seeing people out of work. I really don't like seeing figures hide that fact.
It would also be nice to read about quality of jobs, wages and hours worked. Then the quality of "the recovery" would become even more clear.
What? No "you lazy bums need to find a job" post?
They must be laid off, too. LOL.
Jeb Bush says Americans aren't working hard enough. That if one part-time, menial, minimum wage job isn't enough, hell, get 2, 3 or 4 of them...
These people are just fk'd. Mainly because the states are also lying about the unemployment rates and have thus slashed their benefits drastically. Say hell to Greece.
Hell, Greece.
Hello USA.
You are in a recession.
Canada has admitted it.
So can you.
And paper gold spikes up 6 or 7 "dollars" and then slowly collapses back to the pre-ordained level.
When gold - the REAL metal - starts constantly rising slowly and just ignores these silly US "data" blurbs, THEN we'll know it's serious...
I'm so sick of this lousy weather!
Well, somebody told you so https://www.youtube.com/watch?v=KWu-efNN8PM
What a recovery! Obama and his communist say so.
Looking forward to James BullTard, of the St Louis Fed, to start talking about a much larger QE4 to boost stocks.
In case anyone cares, the unadjusted initial claims was 303k, and the continuing claims was 2,145k.
Dear Zero:
I'm running for the United States Senate, I need your help, and I deserve your help. Let me tell you why.
This is going to be an enormous undertaking. I will not be getting any assistance from the Koch Brothers, the Chamber of Commerce or corporate lobbyists, but I would be honored and forever grateful to have your help. Would you please give me a hand?
I wake up each day knowing that there are 700,000 Floridians who are counting on me to do something good for them in their lives. Next year, with the voters' backing (and your generous support) that number will be over 19,000,000. I will do my best to help every one of us, whenever we need help. If you are just plain folks, I will work hard to be your representative, your champion, and your friend.
Please help our campaign by giving us whatever you can, right now! Every dollar counts, because every person counts.
By now, you might already know me.
You might also remember that in a truly do-nothing Congress, I actually passed more amendments, and wrote more bills, than ANY OTHER MEMBER of the House of Representatives, Democrat OR Republican. And these were good, solid progressive laws, not handouts to lobbyists and special interests.
When I say I fight for progressive values, I don't mean it lightly.
I fight to win. I fight for results. I GET RESULTS:
• I passed amendments to move tens of millions of dollars from the bloated military budget to fund biomedical research on Gulf War illness and a cure for cancer.
• I passed amendments to increase the budget for bilingual housing counseling by 50%, increase free tax assistance to seniors by 33%, and reverse 43% of the cruel budget cut for senior housing.
• I passed amendments instituting a "contractor death penalty" that shuts off federal contract dollars for contractors who commit crimes or fraud.
I have fought for these results because I am committed to making this world a better place, for everyone, one change at a time. If we can do this in the Tea Party's House, imagine what we will do in the Senate, alongside Elizabeth Warren and Sherrod Brown!
So please, give us a helping hand, so that way we can accomplish even more substantive, progressive results.
I fight so hard for what's right, because I've been doing it my whole life.
Let me explain...
I grew up in the Bronx. Life was not easy. In the neighborhood where I grew up, you had to work hard just to survive. I've met plumbers who could be engineers, truck drivers who could be lawyers, nurses who could be doctors.
I realized that if they had a genuine opportunity, unchained by poverty, prejudice, poor health, poor education or discrimination, then we all would be better off. And when everyone is better off individually, then everyone is better off together.
I was a sick child. I had to go to the hospital four times a week for treatment. Luckily for me, my parents both had good union jobs that provided health coverage to them and to me, even when they were on strike. If not for that, I might not be alive today....
Back in 2009, I told the American people that the opponents of affordable healthcare demanded you "don't get sick...and if you do get sick, die quickly." You can see now that that wasn't a political stunt. I actually owe my life to affordable healthcare. That's why I want everyone to be able to see a doctor when he or she is sick, and get the care needed to stay healthy and alive. It's personal.
At 16 years of age, I received an acceptance letter to Harvard College. But for me and others like me, that meant more hard work. I worked as a janitor, cleaning toilets, and then as a night watchman, on the midnight shift. I made less than four dollars an hour, but I survived.
I learned the hard way that the people who do the most unpleasant jobs often get paid the very least.
But education was my ladder. Education gave me my chance to be all that I could be, live a better life, and be of greater service to others. That's why I want every student to be able to afford college, without suffering a lifetime of debt.
After I finished school, I founded the Alliance for Aging Research. I was an officer of the Alliance for more than 20 years. We increased funding for research on cures for diseases of old age by more than 500%.
While you work to help seniors as long as I have, you realize that Social Security and Medicare are covenants that we make with each other, from one generation to the next. People shouldn't have to pay taxes when they pay into Social Security, and then again when Social Security pays out to them. Medicare should cover your eyes, ears and teeth, and every healthcare need. And seniors deserve a raise.
I went on to become the first President of a company that broke the back of the monopoly on international long distance phone calls. As a lawyer, I filed lawsuits for the benefits of the taxpayers against war profiteers in Iraq. I won the first case against those profiteers that ever went to a jury. I saw the worst side of war, and I saw how war has so many bombastic promoters -and how much our country and our soldiers need a champion for peace.
When I say that I want the opportunity to join Elizabeth Warren in the Senate, I don't say it because I want a job.
I want to DO A JOB.
I don't want to be something. I want to do something. Something called justice.
I am un-bought and un-bossed. I carry the banners of justice, equality, compassion and peace. My compass is the greatest good for the greatest number. With your help, and the help of all kindred spirits, we will continue this fight, and we will WIN!
Sincerely,
Rep. Alan Grayson
Candidate for the U.S. Senate
P.S. In 2012, and again in 2014, I was the only Member of the House of Representatives who raised most of his campaign funds from small donors - not lobbyists, or special interests, or millionaires, or multinational corporations. I don't work for them, I work for you. PLEASE, help me today. That way we can make sure that in the SENATE, we CONTINUE to demonstrate that you don't have to sell the law to the highest bidder in order to succeed in American politics today.
In other words you like to spend other peoples money on what you deem morally correct issues? The problem is whose morals? What should I pay for bilingual housing counseling?
Every student afford college????? ARE YOU SERIOUS??????? DO REALIZE WHAT MOST EDUCATIONAL INSTITUTIONS ARE INDOCTRINATION MILLS THAT OVERCHARGE FOR TUITION AND BOOKS? YOU WANT ME TO PAY FOR THAT???
Go Jump in lake and swallow!!!
We all know that data from Gov and official research centers is corrupt and a total fraud. Even data that comes out negative cannot be taken at face value....it's worse. I base my decisions and actions on what is done (or not done, like raising rates), not on what is said. Evil resides in darkness. Truth is light.
The worst researchers are on the government payrolls. So anytime I hear "government expert", I disregard it completely.
But, but... the President said...
Nothing here matters (at least that can't be manipulated/obsuscated or eliminated from public view), until Mariupol is taken or China decides to do something very un-Chinese like.
Just another reason why people are flocking to Bernie Sanders.
I'm sick of you guys not factoring in the weather!!!
Off with your heads!!
So are those 7800 lost workers from Microsoft going to work fast food. No net job loss. Even steven.