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Bah Humbug - Initial Jobless Claims Surge Most In 10 Months In Pre-Christmas Week
Year-over-year, initial jobless claims are unchanged as the week-ending with Christmas Day saw a Scorrge-like 20,000 surge in initial claims. This is the largest weekly rise since February with 2015 ending with the highest initial claims print in 5 months.
Err. Janet we have a problem.
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THE RECOVERY SUMMER HAS ARRIVED!
(someone - call Krugman)
(tell him his 20 yo male Thai massage specialist has arrived)
We need an update on Gartman from ZH. Fading Gartman in 2015 was extremely profitable and is a proven strategy that will continue to reap rewards going into the new year.
Put those fuckers on welfare then they will have plenty of money to spend and stimulate the economy. Fuck that was easy.
GREEN SHOOTS ALL AROUND BOYS!
-Joe "Uncle Nasty" Biden
10-year drops below 2.3%, now around 2.277% ... reality setting-in to certain fixed income desks. goldman sachs may wanna take that 10-year yield target down to 2.00% from 3.00% by years-end and that may even be too high.
Apparently, there is less demand for "workers" to process the returned XXXL Kardashian tees and re-gifted Chia Heads.
Businesses are getting rid of employees early because minimum wages are going up in a bunch of states tomorrow. Look for a bunch of people to "leave" the workforce in January.
Just the beginning...
I know we have been hearing how great Christmas retail was but I went shopping the Tuesday before Christmas, I knew what I was buying, I hit 3 strip malls in 3 different towns and was finished in an hour and a half. Plenty of parking and no lines at the registers.
"Christmas Day saw a Scorrge-like 20,000 surge in initial claims."
Is it scourge or scrooge - just curious...?
NM - you're just a kid with a lid.
I have to admit that this 20K increase in claims took me by surprise - the week before Christmas? Definitely not good.
My communting time keeps getting shorter and shorter.
Like we want to believe there is any reality in government supplied metrics. Have confidence that we will be told what we need to know when we need to know it.
Actually, year over year, unadjusted claims are down 43K. Not Doomsday yet.
https://www.dol.gov/ui/data.pdf
Jobs are so "old" economy. I recommend that you get training on robot and drone repair, or you need to stay on the goverment dole.
Sigh. The unadjusted numbers actually show a widening gap to the downside, YoY. It's worth looking at the chart of those numbers, as they spiked to over 400K last year - post Christmas. And then, right back down. You all are going to give yourself a heart attack, if you're going to react like this to a weekly claims report.
And, it ain't Janet's problem.
LOL, more recovery propaganda from the United Socialist Amerikan (USA) leaders!
Comrades just repeat over and over again, "What a recovery!".
Don't blow your cerebral synapses on this one, guys.
The surge of 20,000 initial claims in the pre-Christmas week only corrects the phony reduction of jobless claims in the previous two or three weeks -- The Holy Shopping Weeks of Big Spending -- when initial claims were artificially reduced by 20,000 to assist Americans to open their wallets and insert their new chip credit cards into the terminal.
(do not remove card).