Initial Jobless Claims Plunge Near 44 Year Lows As Continuing Claims Hit 4 Month Highs

Tyler Durden's picture

Initial jobless claims plunged 28k to 235k - the second lowest print since 1973 - after surging in the post-Trump era. However, completly opposite to that possible holiday-related print, continuing jobless claims rose once again to its highest since the beginning of September.

Continuing claims are up 6 of the 7 weeks post Trump - the biggest rise since May 2009.

We suepect the plunge in claims is holiday-date related.

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hairball48's picture

I guess all the fast food and barista jobs are filled.

Mr. Kwikky's picture

Near 44 Year Lows..under the 44th fake President. Coincidence?
Nah I don't think so

rccalhoun's picture

many of the part time jobs are also temporary jobs ...where the employer states up front there will be no unemployment

benefits.  from one temporary barista job to another or just drop out of the work force. 

and the mother fuckers try to spread the lie that there is full employment....that is the real crime.  just own up to the fact that

the USA is still in a deep recession....and there's no room in the work force for new hires.  why lie??????  everything has become

a lie.  thats why trump won.  he tells the truth as he sees it......although he's a bit distorted in his observations sometimes.

sure beats the lying sack of shits in washington.  99% liars.  stone faced, cock sucking liars.

Delving Eye's picture

Exactly right, rc. 94% of all new jobs created under Obama were part-time.

Says so right here: http://www.zerohedge.com/news/2016-12-23/top-white-house-economist-admit...

LawsofPhysics's picture

More "everything is awesome" news!!!

Your move Mr. Yellen!!!

ejmoosa's picture

If you have two part time jobs and lose one, it never shows up in this report.

So why is anyone surprised in a market dominated by part time jobs that this would be the result with the metric of "Initial Jobless Claims"?

dimwitted economist's picture

Everything is fucking Wonderful...

Now that our Restaurant went Bankrupt and had to Shut Down last Month..

Happy New Year Bitches!!!!!!

lil dirtball's picture

Sorry to hear.

You could always sell everything you have, borrow every dime you can and move to D.C. and open up a pizza joint. Business from the elite is said to be brisk.

jamesmmu's picture

This indicator is meaningless. Unless there is a major disaster. This indictor won't reflect anything special.

whatamaroon's picture

Yawn, another episode in 'Fake' news.

Eagle40's picture

This is what is happening. Many are getting laid off and maximizing their unemployment benefits until they run out. When benefits run out they are no longer a statistic. The US government and these global slime ball corporations are not doing massive layoffs but instead are doing coordinated timely smaller layoffs. Also, Obozo stopped unemployment extensions back in 2009 through 2012 which could extend for almost 2 years. Only 27% of employed people are eligible for unemployment. Where as 67% were eligible back in 2009. In other words it's manipulation and lies to deceive the public. Another Obozo manipulated stat.

Eagle40's picture

This is what is happening. Many are getting laid off and maximizing their unemployment benefits until they run out. When benefits run out they are no longer a statistic. The US government and these global slime ball corporations are not doing massive layoffs but instead are doing coordinated timely smaller layoffs. Also, Obozo stopped unemployment extensions back in 2009 through 2012 which could extend for almost 2 years. Only 27% of employed people are eligible for unemployment. Where as 67% were eligible back in 2009. In other words it's manipulation and lies to deceive the public. Another Obozo manipulated stat.

Omen IV's picture

Fake Unemployment Rate extends to Fake Job Additions - Obama counts jobs as low as ten hours as full time equivalent 40 hour job - so 15 million jobs created since 2009 are as low as 4 million or worse since as the prt time worker gets laid off over and over again the next part time job is counted as a full time job

 

if 95 million +++ are unemployed or 40 % of those 23 to 55 years old 240 milllion - the numbers are far worse than imagined

 

Barack Peddling Fiction Obama and all those in his administration are a complete fraud

PoasterToaster's picture
PoasterToaster (not verified) Jan 5, 2017 9:37 AM

You have to have just had a job to file a claim.  95 million out of the workforce aren't making claims.  Wonder why they keep posting the small number instead of the large one.

rejected's picture

Initial jobless claims plunged 28k to 235k - the second lowest print since 1973 "

Okay,,, How about calculating the unemploymeny like they did in 1973.

milo_hoffman's picture

Remember.... once everyone in the USA has lost their job and given up looking we will have 100% full employment the way the government calculates unemployment.

 

Genius.

angry_dad's picture
angry_dad (not verified) Jan 5, 2017 10:03 AM

How does anyone comprehend the chinese algebra that is  used to calculate joblessness?

ONE fact is certain, the usa has a shitload of unemployed people.

Kprime's picture

I am one of the 95 million no longer working "in the system".  What this number tells you is, we ain't coming back.  Once those "continuing claims" reaches the end of their check stream, they may not come back either. 

UndertheDRADIS's picture

That whole "War on Cash" may be aimed at you, Bubba.

Kprime's picture

we had how many robot filled jobs in 1973?  robots don't file unemployment. neither do farm tractors that can plow 1/2 million acreas.  automatic milkers don't file unemployment.  atms don't file unemployment. computers writing their own code don't file unemployment.

in the future self driving cars and trucks won't file unemployment.  So, things will only get better.  As we approach 200 million out of the work force and zero new claims we will have arrived in Zanadu.

now if we could just get that brown shit stain removed from the executive chair in the oval office. 

StreetObserver's picture

Everyone who has been looking for a real full time job has either had their eligibility period for unemployment run out, thus is no longer counted, or is working several part time McJobs. Maybe they are part of the new slave "sharing economy."

If we measured unemployment the way we did when Dollar Bill Clinton was president, unemployment would be well over 20%. Nice "recovery", mr. 0bama!

Look at Shadowstats.com , a high quality site that breaks down unemployment number hocus pocus.

Weaponize your wallet, spend nothing that you don't have to in the ass end of the Obamanation. Carry all your spending forward to President Trump's first full month of statistics in February.