Post-Election, Continuing Jobless Claims Are Soaring Most Since 2008

Tyler Durden's picture

After years of declines, the 11 weeks since President Trump was elected have seen something 'different' happen in continuing jobless claims.

 

Despite payrolls and ADP exuberance, the number of people continuing to receive unemployment benefits has risen at the fastest rate since 2008 post-election.

 

Probably just a coincidence.

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thesonandheir's picture

Maybe the 8 years of faked data is slowly being unfaked now the new guy is in charge.

finametrics's picture

my thoughts exactly. the least they can do is hide their tracks a little better.

Joe Sichs Pach's picture

Precisely. What metric have they decided to employ for these "new" numbers?

Looney's picture

 

No matter what happens with Employment, this is going to continue. The BLS will need to even-up all the goal-seeking atrocities they’ve committed over the 0bama years.

They can always “find an error”, doubling up the U-6 and U-11, too.  ;-)

Looney

techpriest's picture

Now that "their guy" isn't in office, it's time to "pull it" with the numbers.

Of course, this was going to happen eventually, so honestly, I'd rather they just get it all over with *right now,* so in 6-8 months we can finally consider some kind of real recovery.

3.7.77's picture

But ADP just reported a soaring jobs report. You mean it pays to be unemployed?

CJgipper's picture

Trump should order them to go back and recalculate GDP ex government spending and publish that as the offical GDP for the last decade.

MFL5591's picture

This is odviuosly Trumps fault.  Afterall, he has been in office now 2 weeks!  Nothing to do with the outgoing jokester!

BigFatUglyBubble's picture

"my thoughts exactly. the least they can do is hide their tracks a little better"

They don't have to.  90% of people are completely hypnotized/mesmerized by Beyonce's Butt. 

Cassandra.Hermes's picture

Wishful thinking! Nothing changed in the way they count it! The fake news are Trump tweets, you can't tell the CEOs what to do, they do not report to the president, they report to investor's representatives and board of directors. Patriotism would never beat the greed, sorry!

ThuleNord's picture

If Trump were smart he would publicly claim he's going to re-build the structure used for gathering unemployment data to show the people the real numbers so we can start rebuilding our jobs programs honestly. Otherwise (((they))) will just continue to harness the ponzi counting scheme they use now to make him look bad.

skunzie's picture

Excellent point TN.  Steal their thunder!

Giant Meteor's picture

Yep, first thing that came to mind as well. Unleash the Kraken.

NugginFuts's picture

uhhhh bullish, right? Where's Gartman? I need Gartman to tell me what to do!!!

Snaffew's picture

Gartman is unavailable...he's currently sitting on a Sit 'N Spin wearing a diaper....

JTimchenko's picture

The Obama financial bubble is bursting..

south40_dreams's picture

The US economy peaked in 1999/2000 and then crashed hard. It's been smoke mirrors and bs lies ever since. Undo all of billy bob the lech's corrupt changes and we might have a chance. The clinton Soros crime syndicate has been working its evil for almost 25 years.

shizzledizzle's picture

I thought everything was roses yesterday?

Dr. Engali's picture

This is nothing. Just wait until the previously uncounted unemployed people miraculously make their way back into the system. 

Joe Sichs Pach's picture

Exactly. And that idiotic article last night claiming the only way to increase jobs is to bring in 25million "immigrants". Pure bullshit.

dlfield's picture

"Protesters" primary source of income?

Stan522's picture

Well, if we are to use the same excuses that the chairman gave when he took control, it will by obama's fault for at least the next 6 to 7 years.....

whatamaroon's picture

That would be truthfull.

skunzie's picture

No, the new MSM meme will be "It's Trump's fault" for everything.

LawsofPhysics's picture

Please, we have in fact been in a depression for quite a while.  The MSM has been working with the .gov to keep this hidden.

As everyone around here knows global purchasing power per capita  continues to decline...

(while global DEBT continues to grow)

Good luck!

 

Snaffew's picture

BTFD or STFO (short the fucking open)?

south40_dreams's picture

My personal observations are that the economy is D E A D dead. Perky optimism only goes so far

corporatewhore's picture

I work 80 hours per week at two jobs (age 66--gotta keep moving so I don't die in one place)  in supposedly recession proof industries.  Hours have been cut as sales have just plunged in january and december.  People have zero discretionary income currently.  Traffic has slowed dramatically in the evening hours.  Once again people aren't buying auto glass or filling up their cars.

angry_dad's picture

"Once again people aren't buying auto glass or filling up their cars."

Yet auto insurance companies are increasing premium rates due to lower gasoline prices.

Keep them broke and stupid.


ac0e51's picture

Perhaps where you live things are bad.

We are booked up in our industry almost a year out and currently are deferring new work.

 

James Douglass

Garden City, Kansas

NoWayJose's picture

The dollar trade unwinding, the Yellen put pulled out from under stocks, Japan investing pension money in American infrastructure, Iran firing missiles (including ones at the dollar), Brexit clears the first Parliament vote, Trump hangs up on annoying Aussie PM who kept pushing refugee swap, Syria to extend fighting outside Aleppo, Dems obstructing everything...

Maybe NOT a BTFD kind of day...

ajkreider's picture

Hmmm.  This must by why continuing claims are 190K lower than last year at this time.  Pretty sure the OP hasn't actually looked at any of the data.

ajkreider's picture

Here's how stupid this chart is.

If we have 1 million in claims, and it goes up by 100K, that's a 10% jump.

If we have 2 million in claims, and it goes up by 150K, we have a 7.5% jump.  Which is better, I wonder?

The trend has been towards the first, which is why the 'jumps' are a higher percentage.  But you wouldn't know that from this idiocy,

 

 

 

 

randfan's picture

DJT's a fucking pussy. He spends his whole time talking to CEOs. That ain't doing shit for me.  Saw him in Valdosta Ga last Feb. He talked about greedy bankers owning Hillary. This guy's no different. They're all the same.  Totally out for themselves.

g'kar's picture

O'bowelmovement's legacy. A crappy, in the tank over-regulated economy and all time highs in stocks and bonds, illegal aliens living high on the hog and a media still snorting his butt fumes.

angry_dad's picture

Did the seasonal collapse of retail jobs have any influence on these stats?

ac0e51's picture

Could this be a function of the fact that in the past Bush-Clinton-Bush-Obama Administrations routinely "massaged" the unemployment numbers to show artifically low unemployment.

Now that the actual numbers are beginning to come out it makes previous Administrations look very bad. 

James Douglass

Garden City, Kansas 

skunzie's picture

I'd love to see The Donald come out on national TV and simply tell the American people that their government has been lying to them over the past 20-25 years with regard to the economy.  Put all fairy tale numbers along side the actual number on the WH site for all to see.  Let them know that from this day forward only real numbers will be used and that we have work to do to make America great again!  That would utterly destroy any power the swamp dwellers would have planned to use to make him look bad.  It would also open people's eyes to just how bad things are here in the gool ol' US of A!

gdpetti's picture

He could, but would he dare to do so? As his style of 'negotiation' is based in posturing, which is a BS routine.

If he wanted to, he could simply ask that guy at ShadowStats to give him the real numbers and post them instead of all that BLS crap.

But is Trump ready for reality? The excuse is usually to say the people can't handle the truth, but the truth is the puppets and their masters can't. It exposes them to the light of day... not something the shadow walkers like to see.

Archive_file's picture

Paging Bernie Madoff...