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Average Length Of Unemployment Surges To New All Time Record 40.4 Weeks
We already learned that the one biggest red flag in unemployment data had been raised when we found that the labor force participation rate was the lowest since 1984. Now we find that the other critical data point: average length of unemployment, just hit a new all time high of 40.4 weeks in July, up from the previous record of 39.9 in June. Someone should tell the average American who is rapidly approaching one year in average unemployment that the stock market soared on good payroll news. They will be delighted.
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Looks like the market surge has changed course...
Ouch!
I think the DOW broke. It's stuck at -52.45.
@-Michelle-
Where have you been? Missed your posts. Hope the baby and family are well.
I've been here and there. I started our oldest's homeschool year a little early, so I've been busy with that. We're all doing well, though, thank you!
And seriously, what's up with the tickers? They don't really seem to be moving.
@-Michelle-
My guess is the fedbots (forgot who coined that term) or HFT algos are too much to process. It's a virtual market full of real fraud. Can't wait until we go Italian and call a market holiday.
Going Italian. Sounds almost pleasant. Like going Greek.
Wait a minute, on second thought......forget I just said that.
Stock market soared on good news?
Looks like the Challenger take off.
It soared briefly, now it is crashing back to earth.
40 weeks homeless holiday sounds nice....
Anyone have an old 80s model Cutlass Supreme for sale? I'm looking to up my square footage living space. Let me know.
Why live in a parking lot when you can sell the car buy a big tent, a four wheeler and claim yourself a nice creekside location back in the woods. Grab a fishing pole and a long gun and you will be doing allright.
Heh, my parents had one of those. We called it the Gutless Cutlass. Dad sold the 68 Grande Torino fastback for $1000 and bought that piece of junk just when I started driving. The GT could smoke the tires all day long, the Cutlass....nothing.
How about a 59 Panel Truck? Granny Gear Bitchez!
Here in Ontario, we apply for a prospector's licence (about $10) and then stake a claim, go out, pitch our tent, and "explore". Could take years.
This is another GREEN SHOOT. Do you see how it is growing upward? Healthy growth. The markets will try to pull in a few retail suckers to the slaughter house and then... happy days!! LMAO
The only green shoots in my yard are weeds. The grass stopped growing a month ago and turned brown - Much like the economy - The weeds being real world inflation of course.
Can't buy a job, bitchez.
why buy a job when you can get unemployment benefits, food stamps, free school lunches and healthcare for life?
Check out the volatility in the markets.
The Dow opened, shot up to over 1%, I went to get a coffee and now it's -0.5%....and falling. It's only been open an hour!
Is this
a) The time it's taken for the jobs bullshit to wear off
b) The PPT running out of money
c) Hope - followed quickly by a breath of reality
Every market is like a mountain range today - haven't seen extremes like this for a long time...
@wrtitingsonthewall
Deleveraging. Large. BTFD now is STFR.
you have started the clock. i told myself that six months from the first time i saw stfr used on zh was the time to buy. february 5, 2012 it (probably) is.
@buzzsaw99
LOL. I'm waiting for either a.) the Quatto prophecy to be fulfilled or b.) the issuance if Red Money before i start buying.
"Quatto Prophecy"?
my avatar is quato from total recall. open your mind bitchez.
Give it three months buzz.
October came early this year
So will Santa
ho ho ho!
Sorry you've lost me - 'subtitles in French'???
http://www.acronymfinder.com/Slang/STFR.html
I got BTFD (although I imagined a better acronym of 'Back the fuck down', or even 'burn the fucker down' as it usually preceeded the words 'FED' and 'QE3' and 'Hyperinflation' - I presumed it was what you were all going to do with the FED)
....but STFR - I need help with this one...
Sell The Fucking Rip
aka, sell into any strength
Thanks for that.
Rip - like surfing - like tide?
Very good.
@writingsonthewall
Sell the Fucking Rip
When you are stuck in a position, every little pop is a great chance to get out. Contrary to what David Rosenberg wrote the other day, there is no place to hide in a deleveraging environment. We will have margin call upon margin call until we reacb equilibrium and that is a long way down from here.
So how long before we all need to go and queue outside the bank?
I want a good spot - near the front - close to the windows.
S'il te faut recherche... ;)
Irratic moves or wash trades?
Reality overcoming the propaganda.
Ok, so the NFP bullshit has been digested in like 15 trading minutes. Markets are completely confused this morning.
The all important WTI still in the crapper.
Here's what is important. How is oil priced in US$. Not much else matters.
The BLS bitch was on CNBC.....she said that the people on welfare are economic generators....lol....so lets all get on welfare if its so good for the economy...they have no idea about economics....nor how to create a real job....they just pass 4,000 new regulations and can´t figure out why no one is hiring..
She's only echoing the sentiment of Nancy Pelosi...
eg. “It creates jobs faster than almost any other initiative you can name.” - Nancy Pelosi
Even with 4000 regulations companies will hire if there is DEMAND. Business may bitch about regulations being the problem but that is just a ploy to improve profits in the face of irreparably weak demand.
JPM is still up; do ya'll think the heavy lifting alos are to blame?
Barton Biggs on CNBS saying the evidence is there for solid 2.5-3% real economic growth for 2H11. Bullish on ammo.
<<<Market moves up after Oblahblah's 11am speech
<<<Market moves to the Marianas Trench after Oblahblah's 11am speech
So the robots bought on the headlines and now the selling continues... There's a mortgage advisory branch of BAC on the 3rd floor of my building... I'll let you all know if i see people leaving tonight/next week with boxes full of personal items and stolen office stationary ;-)
or let us know if you see them passing your window on their cordless bungie jumps.
The cord shouldn't matter if they're diving from the 3rd floor...the only problem is it may not be fatal.
Lord knows I'm enjoying my "funemployment"! Just today my spouse and I started our "staycation". We dumped a bag of beachsand on the floor of our cloth condominium (tent), set up the beach chairs, and life is good.
Nice!! My cloth condo is by a creek in the woods.
Rumors of US downgrade by S/P after close...
Pouring in : TALK is making the rounds of a downgrade by S&P on US tonight, to be announced at 5 PM NY time...nothing confirmed!
The bid to FI is knee-jerk reaction to stocks coming off.
would explain yesterday selloff by insiders and market giving up so soon today
Rumors..they are way late....I think Bank runs in Europe this weekend.....
Some huge TICKs
3 days in a row at -1400 or worse
http://stockcharts.com/h-sc/ui?s=$TICK&p=D&yr=0&mn=6&dy=0&id=p37322057532
5-day moving average of put/call ratio now the highest of the year
http://stockcharts.com/h-sc/ui?s=$CPC&p=D&yr=1&mn=0&dy=0&id=p43408776205
What can I say? Congrats to the bears, we are now in a full blown panic.
Ha, I'd say failed monetary and fiscal policies and gov and big biz working together for 50 years to wring every penny out of the system are to blame. The bears have just realized that the music is stopping and there aren't too many chairs left to sit at.
http://www.youtube.com/watch?v=0kU7ifODMnU
Yes but:
Every gal in Constantinople
Lives in Istanbul, not Constantinople
This remains to be seen after the Tirkish military took a powder. ;)
Ken Kesey’s First LSD Trip Animated | Open Culture http://bit.ly/qAl5g2
I always slam on you Robo because your posts are just used to aggravate people. You are like the friendless bully who will do anything for attention. I generally say ignore people like you and you will go away but you only leave when the market tanks!
But today I will give you Kudo's and say: Good call on your PCLN. I don't know how broke Americans can afford to travel but it seems they are.
You make the assumption they're buying return tickets. ;)
What's strange to me about that is I don't know anyone that's used priceline for years. I can count one hand how many people have even said Priceline about travel in the past 10 years.
It is time to criminalize the possession of gold. Patriot Americans will line up and trade their gold to the Fed for $35 / oz, at which point the Treasury will determine that gold is really worth something between 2000 and 3500 an ounce. Boom. Money game reset. It's like flipping over the 'bank' in Monopoly when you recognize all is lost anyways. New game, we can play again.
Decrease the total workforce number by 193.000 and voilà, the percentage of unemployed decreases. Easy as pie.
Line 2 from the table here
http://www.bls.gov/news.release/empsit.a.htm
You look at the numbers, not the percentage, and you see that 38.000 jobs were lost.
This is probably why the BLS servers could not be reached for quite a while after the numbers were made public, they did want the 9.1% to sink in without possibility of verification.
h/t George Ure from www.urbansurvival.com
People need to quit looking for a job and create a job instead.
And many are doing so. In China.
that's what i am doing. have my business set up and am in the process of stealing clients away from us firms who have no fucking clue what they are doing anymore.
But, but, but .... wouldn't that give the "job creators" nothing to do?
Actually I have seen a lot of job creators. Trash day scrap collectors, Craigslist product flippers, and the four day county fair.
> Average Length Of Unemployment Surges To New All Time Record 40.4 Weeks
Is that after taking out the 193,000 people who are "no longer in the workforce"??
Never mind why did I bother asking.
What's up in Canada? TSX is way off.
Congrats USG, in fact you are really are capable of bringing down the unemployment rate, although I doubt this is what anyone hand in mind. Now go ahead and pat yourselves on the back to a week well done, enslaved us all to another 2.5 trillion in debt and lowered the unemployment rate through absolutely none of the job creation you've been touting the pass several years. You fail miserably and disgust the majority of Americans
nobody jumping into the real world before their 99 weeks are up !
How many stories do you need to see about 100X application to opening ratios before this retarded fucking meme will die? The only person that logic is true for is you, asshat.
it is tough to educate the clinically retarded
I wouldn't worry too much. Bernanke says long term unemployment is transitory.
Now that's some change I can believe in... Wait a minute, ya think I'm better off believing in this bag of coins, nothing transitory about holding change in your hand
Here is more bad news for the eeeek!-onomy:
Jobless aid cut as high unemployment reigns"Despite the weak employment environment, six states so far this year have approved cutting jobless benefits to less than the 26-week duration that had prevailed for decades across the nation."
http://www.marketwatch.com/story/jobless-aid-cut-as-high-unemployment-re...
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