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.

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John Law Lives's picture

Looks like the market surge has changed course...

Ouch!

-Michelle-'s picture

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

Cursive's picture

@-Michelle-

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

-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.

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.

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.

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.

schismjism's picture

40 weeks homeless holiday sounds nice....

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.

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.

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.

Hulk's picture

How about a 59 Panel Truck? Granny Gear Bitchez!

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.

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

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.

Internet Tough Guy's picture

Can't buy a job, bitchez.

deez nutz's picture

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

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...

 

 

Cursive's picture

@wrtitingsonthewall

Deleveraging. Large. BTFD now is STFR.

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.

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.

buzzsaw99's picture

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

topcallingtroll's picture

Give it three months buzz.

October came early this year
So will Santa

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...

Larry Darrell's picture

Sell The Fucking Rip

aka, sell into any strength

 

writingsonthewall's picture

Thanks for that.

 

Rip - like surfing - like tide?

 

Very good.

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.

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.

 

 

walküre's picture

Irratic moves or wash trades?

Founders Keeper's picture

Reality overcoming the propaganda.

 

 

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.

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..

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

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. 

WoodMizer's picture

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

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.

Gert_B_Frobe's picture

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

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

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 ;-)

Gert_B_Frobe's picture

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

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.

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.

Cortez's picture

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

WhOracle's picture

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

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

youngman's picture

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

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.

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.