Initial Jobless Claims Spike To 6-Month Highs - Biggest Annual Rise Since May

Tyler Durden's picture

For the first time since May, initial jobless claims are now higher year-over-year (surging to 275k last week - the highest since June).

Notice the "odd" plunge in claims into the election... anything to maintain confidence...

 

While the trend is notably bad post election, we do note that this is the 94th consecutive week with claims below 300,000 - the longest streak since 1969...

 

Question is - what happens next? Recession?

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Fuki's picture
Fuki (not verified) Dec 22, 2016 10:00 AM

There's going to be a lot less jobs it Trump doesn't even make it to the White House.

https://www.accredited-times.com/2016/12/22/john-podesta-confirms-putin-...

Podesta is on NBC - why isn't the FBI investigating him?

 

VinceFostersGhost's picture

 

 

President Trump's fault - unemployed Hollywood actors/stars/subversives

 

Let's make anther Youtube video!

More Ammo's picture

Putin did it cuz you know that the result of bringing out the truth is called rigging.

 

Fucking progressives and their word twisting.

how_this_stuff_works's picture

Hey, did you notice Million Dollar Bonus commented on this article at accredited times?

MillionDollarBonus

"This is not a joke Expat – Russia is a serious threat to progressive Western governments! Average Americans are outraged at their intervention in our elections, and they want justice NOW. NOBODY gets to rig our elections and walk away from that. Russia needs to be nuked into the stone age, NOW, NOW, NOW!!!"

Wow. Who in their right mind CALLS FOR a nuclear war? That's just sick.

cossack55's picture

Cool!!! DOW 25000

MFL5591's picture

Jobless claims droped just at the time of election?  Hmm, the Fed involved in manipulating that too?  Dispiscale people!

NoWayJose's picture

The bulk of government bureaucrats who release these numbers are liberal Democrats - expect the first couple months of Trump to be bad numbers.

Kidbuck's picture

Why is a component of the Obama administration suddenly peddlin' fiction?

29.5 hours's picture

This jobless figure will be significant only when they start laying off bartenders and waitresses...

just the tip's picture

BLS now reporting accurate numbers?  oh, the horror.  unemployment to 25% by inauguration day.

fellatio is not fattening's picture

I've said for 5-6 years the real unemployment rate is closer to 10-12% which I still believe, will the gubment tell us the truth, NO, but I do believe they'll admit to 7-8% now that you know who is gone, 25%, a tad too high, I hope

Kidbuck's picture

I still think Trump should put the Shadow Stats guy in charge of these numbers.

Omen IV's picture

within 6 months these UE will be off the count of the unemployment rolls and then UE Rate will revert - they will join the 100 million not counted

JackMeOff's picture

Looks like its time to "true" the books before the new administration comes in....

whatamaroon's picture

If so few have jobs that means less prople to lay off.

angry_dad's picture
angry_dad (not verified) Dec 22, 2016 11:02 AM

"initial jobless claims are now higher year-over-year (surging to 275k last week - the highest since June).

YET OBAMA STILL MANAGES TO PUBLISH + JOB GROWTH EVERY MONTH

How does this chinese algebra work? 

Looks like they never count the angry TRUMP voters

CoCosAB's picture

GOOD NEWS for 20,000.00 mark of DJIA!

Hohum's picture

Unadjusted claims are actually down 4 K year over year.

CoCosAB's picture

Next? Something like in the lines of the CaterPiller "GREAT RECOVERY"!

silverer's picture

Let's see, jobless rate rises, GDP rises. Maybe if everyone just quits their job, we'd be enjoying maybe 6-7% GDP?

canisdirus's picture

The low initial claims, like the headline UE number in general, is a reflection of the fact so few have full-time permanent jobs, which means they can't get UE benefits, which means they're not counted as unemployed.

In a slow-moving collapse like we saw in the GD, it would have looked almost identical to the UE rates we see now. A spike, then a long decline. In the GD they would have called it 25-30% unemployment, today TPTB call it "near full employment".