This page has been archived and commenting is disabled.

Average Length Of Unemployment Surges To New All Time Record 40.4 Weeks

Tyler Durden's picture




 

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.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 08/05/2011 - 09:56 | 1526591 John Law Lives
John Law Lives's picture

Looks like the market surge has changed course...

Ouch!

Fri, 08/05/2011 - 10:00 | 1526612 -Michelle-
-Michelle-'s picture

I think the DOW broke.  It's stuck at -52.45.

Fri, 08/05/2011 - 10:05 | 1526624 Cursive
Cursive's picture

@-Michelle-

Where have you been? Missed your posts. Hope the baby and family are well.

Fri, 08/05/2011 - 10:13 | 1526652 -Michelle-
-Michelle-'s picture

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.

Fri, 08/05/2011 - 10:21 | 1526683 Cursive
Cursive's picture

@-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.

Fri, 08/05/2011 - 10:38 | 1526758 Cognitive Dissonance
Cognitive Dissonance's picture

 

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.

Fri, 08/05/2011 - 09:56 | 1526595 Larry Darrell
Larry Darrell's picture

Stock market soared on good news?

Looks like the Challenger take off.

It soared briefly, now it is crashing back to earth.

Fri, 08/05/2011 - 09:57 | 1526601 schismjism
schismjism's picture

40 weeks homeless holiday sounds nice....

Fri, 08/05/2011 - 09:59 | 1526610 Cdad
Cdad's picture

Anyone have an old 80s model Cutlass Supreme for sale?  I'm looking to up my square footage living space.  Let me know.

Fri, 08/05/2011 - 10:12 | 1526647 Cortez
Cortez's picture

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.

Fri, 08/05/2011 - 10:18 | 1526648 RobD
RobD's picture

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.

Fri, 08/05/2011 - 10:35 | 1526745 Hulk
Hulk's picture

How about a 59 Panel Truck? Granny Gear Bitchez!

Fri, 08/05/2011 - 11:14 | 1526897 mickeyman
mickeyman's picture

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.

Fri, 08/05/2011 - 09:58 | 1526602 jus_lite_reading
jus_lite_reading's picture

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

Fri, 08/05/2011 - 10:23 | 1526692 Cortez
Cortez's picture

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.

Fri, 08/05/2011 - 09:58 | 1526605 Internet Tough Guy
Internet Tough Guy's picture

Can't buy a job, bitchez.

Fri, 08/05/2011 - 09:59 | 1526611 deez nutz
deez nutz's picture

why buy a job when you can get unemployment benefits, food stamps, free school lunches and healthcare for life? 

Fri, 08/05/2011 - 10:01 | 1526614 writingsonthewall
writingsonthewall's picture

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...

 

 

Fri, 08/05/2011 - 10:03 | 1526619 Cursive
Cursive's picture

@wrtitingsonthewall

Deleveraging. Large. BTFD now is STFR.

Fri, 08/05/2011 - 10:09 | 1526638 buzzsaw99
buzzsaw99's picture

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.

Fri, 08/05/2011 - 10:16 | 1526666 Cursive
Cursive's picture

@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.

Fri, 08/05/2011 - 10:35 | 1526744 Coast Watcher
Coast Watcher's picture

"Quatto Prophecy"?

Fri, 08/05/2011 - 10:37 | 1526755 buzzsaw99
buzzsaw99's picture

my avatar is quato from total recall. open your mind bitchez.

Fri, 08/05/2011 - 10:22 | 1526691 topcallingtroll
topcallingtroll's picture

Give it three months buzz.

October came early this year
So will Santa

Fri, 08/05/2011 - 10:36 | 1526747 buzzsaw99
buzzsaw99's picture

ho ho ho!

Fri, 08/05/2011 - 10:16 | 1526663 writingsonthewall
writingsonthewall's picture

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...

Fri, 08/05/2011 - 10:18 | 1526684 Larry Darrell
Larry Darrell's picture

Sell The Fucking Rip

aka, sell into any strength

 

Fri, 08/05/2011 - 10:27 | 1526716 writingsonthewall
writingsonthewall's picture

Thanks for that.

 

Rip - like surfing - like tide?

 

Very good.

Fri, 08/05/2011 - 10:27 | 1526714 Cursive
Cursive's picture

@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.

Fri, 08/05/2011 - 10:35 | 1526743 writingsonthewall
writingsonthewall's picture

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.

 

 

Fri, 08/05/2011 - 10:33 | 1526732 snowball777
snowball777's picture

S'il te faut recherche... ;)

Fri, 08/05/2011 - 10:13 | 1526654 walküre
walküre's picture

Irratic moves or wash trades?

Fri, 08/05/2011 - 10:14 | 1526655 Founders Keeper
Founders Keeper's picture

Reality overcoming the propaganda.

 

 

Fri, 08/05/2011 - 10:05 | 1526622 walküre
walküre's picture

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.

Fri, 08/05/2011 - 10:05 | 1526626 youngman
youngman's picture

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..

Fri, 08/05/2011 - 10:10 | 1526643 Critical Path
Critical Path's picture

She's only echoing the sentiment of Nancy Pelosi...

 

eg. “It creates jobs faster than almost any other initiative you can name.”  - Nancy Pelosi

Fri, 08/05/2011 - 10:18 | 1526674 Cortez
Cortez's picture

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. 

Fri, 08/05/2011 - 10:05 | 1526629 WoodMizer
WoodMizer's picture

JPM is still up; do ya'll think the heavy lifting alos are to blame?

Fri, 08/05/2011 - 10:05 | 1526630 Gibu The Great
Gibu The Great's picture

Barton Biggs on CNBS saying the evidence is there for solid 2.5-3% real economic growth for 2H11. Bullish on ammo.

Fri, 08/05/2011 - 10:06 | 1526632 Gert_B_Frobe
Gert_B_Frobe's picture

<<<Market moves up after Oblahblah's 11am speech

<<<Market moves to the Marianas Trench after Oblahblah's 11am speech

Fri, 08/05/2011 - 10:07 | 1526634 Dreadker
Dreadker's picture

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 ;-)

Fri, 08/05/2011 - 10:10 | 1526640 Gert_B_Frobe
Gert_B_Frobe's picture

or let us know if you see them passing your window on their cordless bungie jumps.

Fri, 08/05/2011 - 10:37 | 1526750 snowball777
snowball777's picture

The cord shouldn't matter if they're diving from the 3rd floor...the only problem is it may not be fatal.

Fri, 08/05/2011 - 10:10 | 1526637 oncebitten
oncebitten's picture

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.

Fri, 08/05/2011 - 10:25 | 1526701 Cortez
Cortez's picture

Nice!!  My cloth condo is by a creek in the woods. 

Fri, 08/05/2011 - 10:10 | 1526642 WhOracle
WhOracle's picture

Rumors of US downgrade by S/P after close...

Fri, 08/05/2011 - 10:12 | 1526658 WhOracle
WhOracle's picture

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

Fri, 08/05/2011 - 10:16 | 1526667 youngman
youngman's picture

Rumors..they are way late....I think Bank runs in Europe this weekend.....

Fri, 08/05/2011 - 10:15 | 1526659 RobotTrader
RobotTrader's picture

 

 

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.

Fri, 08/05/2011 - 10:19 | 1526677 fwchiro
fwchiro's picture

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.

Fri, 08/05/2011 - 10:50 | 1526799 fwchiro
fwchiro's picture

Yes but:

Every gal in Constantinople
Lives in Istanbul, not Constantinople

Fri, 08/05/2011 - 11:02 | 1526845 snowball777
snowball777's picture

This remains to be seen after the Tirkish military took a powder. ;)

Fri, 08/05/2011 - 10:15 | 1526664 km4
km4's picture

Ken Kesey’s First LSD Trip Animated | Open Culture http://bit.ly/qAl5g2

Fri, 08/05/2011 - 10:19 | 1526678 Archimedes
Archimedes's picture

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.

 

Fri, 08/05/2011 - 10:39 | 1526765 snowball777
snowball777's picture

You make the assumption they're buying return tickets. ;)

Fri, 08/05/2011 - 14:19 | 1527744 Temporalist
Temporalist's picture

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.

Fri, 08/05/2011 - 10:23 | 1526694 Milton Waddams
Milton Waddams's picture

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.

Fri, 08/05/2011 - 10:26 | 1526703 gratefultraveller
gratefultraveller's picture

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

Fri, 08/05/2011 - 10:27 | 1526709 topcallingtroll
topcallingtroll's picture

People need to quit looking for a job and create a job instead.

Fri, 08/05/2011 - 10:36 | 1526748 Version 7
Version 7's picture

And many are doing so. In China.

Fri, 08/05/2011 - 11:36 | 1527038 laomei
laomei's picture

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.  

Fri, 08/05/2011 - 10:39 | 1526762 Cortez
Cortez's picture

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. 

Fri, 08/05/2011 - 10:27 | 1526711 unununium
unununium's picture

> 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.

Fri, 08/05/2011 - 10:30 | 1526725 walküre
walküre's picture

What's up in Canada? TSX is way off.

Fri, 08/05/2011 - 10:30 | 1526726 Critical Path
Critical Path's picture

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

Fri, 08/05/2011 - 10:36 | 1526749 Seasmoke
Seasmoke's picture

nobody jumping into the real world before their 99 weeks are up !

Fri, 08/05/2011 - 10:40 | 1526769 snowball777
snowball777's picture

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.

Fri, 08/05/2011 - 11:40 | 1527055 junkiebev
junkiebev's picture

it is tough to educate the clinically retarded

Fri, 08/05/2011 - 10:49 | 1526795 Nascent_Variable
Nascent_Variable's picture

I wouldn't worry too much.  Bernanke says long term unemployment is transitory.

Fri, 08/05/2011 - 11:51 | 1527093 alchemystic
alchemystic's picture

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

Fri, 08/05/2011 - 14:18 | 1527751 Temporalist
Temporalist's picture

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...

Wed, 09/14/2011 - 04:53 | 1667441 chinawholesaler
chinawholesaler's picture

Wholesale Stationery
Promotional Products

Wholesale Bedding
Hair Products
Wholesale Stationery

Wholesale Keychain
Wholesale Pen
Lunch Box

Health Care Products
Wholesale Mouse
Wholesale Clothes Rack

Wedding Favors
Wholesale Glove
Wholesale Scissors

Tape Measure
Wholesale Waterproof Case
Bottle Opener

Garden Decorations
Promotional Gifts
Cleaner Products

Wholesale Coaster
Coca Cola Gifts
Sport Items

Coin Bank
Wholesale TelePhone
Wholesale USB Products

Wholesale Sticker
Wholesale Compressed Products
Audio Video Equipment

Wholesale Mug
Wholesale lable
Wholesale Keyboard

China Wholesale
Wholesale Glove
China Wholesale

Giveaway Material
Wholesale Glass
Wholesale Mobile Phone

Wholesale Waterproof Case
Automotive Products
Wholesale Glove

Wholesale Wallet
Voice Recorder
Wholesale Bracelet

Promotional Products

Do NOT follow this link or you will be banned from the site!