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Initial Claims Print Better Than Expected At 390K, Last Week Again Revised To 400K

Tyler Durden's picture




 

The only question we have is how much higher will this week's 390K number be revised to next week in continuing the BLS one trillion sigma tradition of revising every prior number higher and never lower. As it stands, the 390K is the lowest since April, and a drop of 10K from both the previous print and expectations. In other news Non-seasonally adjusted claims increased by +29,106 to 398,753: this is the second highest number since July. What was also notable is that those on EUCs and Extended Benefits rose by 43K in the past week, an odd reversal to the now persistent issue of 99'ers hitting the cliff. In other news, the previous continuing claims number was revised worse by 24k from 3,683K to 3,707K which means today's 3,615K number will also see a downward revision soon. Regardless, no matter how one looks at this, the Claims number confirms there is no net job creation, and considering the bloodbath on Wall Street that will occur over the next month which will affect very high paying jobs, the bottom is about to fall out where it hurts the most: tax collections, which means the government will once again be forced to do what it does best: print paper, with the Fed firmly in tow to monetize it. Same old song.

 

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Thu, 11/10/2011 - 09:45 | 1865505 Conrad Murray
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OT Sentiment Poll: Is it time for Project Mayhem?

Vote with the arrows.

Thu, 11/10/2011 - 09:45 | 1865506 transaccountin
transaccountin's picture

damn, 390k; party like it's 1999..... wait what?

Thu, 11/10/2011 - 09:45 | 1865508 Taterboy
Taterboy's picture

Isn't math fun!

Thu, 11/10/2011 - 09:57 | 1865575 SheepDog-One
SheepDog-One's picture

Well actually I AM surprised....that they still can find 390,000 people to fire weekly, I thought by now theyd have ran out of people to fire.

Thu, 11/10/2011 - 10:53 | 1865852 Printfaster
Printfaster's picture

We are getting to the point where the only ones left to fire are in government.

Zimbabwe got to the point where the only people paid a living wage were police/military and teachers.  Both the arms of repression, one for the old, the other for the young.

Thu, 11/10/2011 - 09:46 | 1865512 Bodhi
Bodhi's picture

This coupled with the delay of the 15 cent Xmas tree tax should be cause for a 400 point DOW rally.

Thu, 11/10/2011 - 09:47 | 1865517 jdelano
jdelano's picture

Eventually some one is going to get on CNBC or Bloomberg and freak out-- "HOW FUCKING STUPID ARE YOU PEOPLE? DON'T YOU REALIZE THE BLS NUMBERS ARE TOTALLY MADE UP AND MEANINGLESS?!!!!"  Maybe Egan.   

Thu, 11/10/2011 - 09:49 | 1865531 SheepDog-One
SheepDog-One's picture

They only need to keep the facade up just a tad longer...the endgame is almost here, and then none of it will matter at all.

Thu, 11/10/2011 - 10:00 | 1865584 Schmuck Raker
Schmuck Raker's picture

I think our only hope for that is...

Hugh Hendry.

Thu, 11/10/2011 - 10:43 | 1865804 Gadocat99
Gadocat99's picture

What is the probability that each and every week there is a loss of 400,000 jobs?  Not an average say, 600,000 one week and 200,000 the next, but right at 400,000 every week.

Thu, 11/10/2011 - 09:48 | 1865521 SheepDog-One
SheepDog-One's picture

You left out the 'World War before Christmas' part of all this, did you miss last nites Jerusalem Times saying so? And arrogantly, or whatever, demanding 4 million thru the US draft?

'Print more fiat'...that will be the last thing on anyones mind.

 

 

Thu, 11/10/2011 - 09:50 | 1865534 HelluvaEngineer
HelluvaEngineer's picture

World wars improve employment figures in three ways:

 

 

  • Unemployed college grads become soldiers
  • Industry scales up, hires to build tanks, planes, bullets
  • High density urban centers are bombed, thereby removing large numbers of unemployed from official statistics
Thu, 11/10/2011 - 09:53 | 1865550 SheepDog-One
SheepDog-One's picture

Yea, of course. All planned.

Bankrupt everyone, high unemployment, we get 'attacked' again and justifies the world war theyve planned. 

Its right in front of everyones nose, but most are convinced we just print more money...chuckle.

Thu, 11/10/2011 - 09:57 | 1865566 HelluvaEngineer
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Unfortunately, I think we're headed into the big one, where people actually shoot back.

Thu, 11/10/2011 - 09:59 | 1865580 SheepDog-One
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No doubt Helluva its going to be hell on earth in the US, not only a world war going on, but all out civil war here as well. Bottom line, people gotta eat.

Thu, 11/10/2011 - 10:06 | 1865621 spastic_colon
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remembering a previous post by Tyler....47% percent of americans admit to owning guns.......so lets say 50%

.50 x 300,000,000 = 150,000,000 and say 10% of those actually know how to use them = 15,000,000 = alot of people willing to defend themselves

how many troops does the US have?  Albeit better armed

 

Thu, 11/10/2011 - 10:19 | 1865683 tarsubil
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If push comes to shove, they'll use Reapers. They don't even have to worry about Ben Richards refusing orders.

http://www.youtube.com/watch?v=OJPPQ4wJ2So

Thu, 11/10/2011 - 09:57 | 1865570 spastic_colon
spastic_colon's picture

in these keynsian times it is the only logical end game......it's worked the last two times

asset allocation.....80% us equities 19% guns 1% butter (for the lube)

Thu, 11/10/2011 - 10:14 | 1865659 DeadFred
DeadFred's picture

Nukes are great for that birth/death fudge factor in the NFP

Thu, 11/10/2011 - 10:38 | 1865787 Chuck Walla
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Unemployed college grads become soldiers

 

And the Army will help those kids pay their student loans. How convenient when we will be needing new fodder, I mean a new junior officer corp.

Thu, 11/10/2011 - 09:48 | 1865525 Cdad
Cdad's picture

The Jim Cramer effect...again.  His suggestion this morning is that the bounce is because of...Cisco earnings.  Right.

I guess he needs his ratings to fall even lower [if that is possible] before credibility destruction is complete.

Thu, 11/10/2011 - 09:52 | 1865546 HelluvaEngineer
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In the interest of full disclosure, his not for profit 501(c)(3) hedge fund run out of his basement is long Cisco.  At least until the end of the day.

Thu, 11/10/2011 - 09:55 | 1865557 jdelano
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His number one super bullish mega 'if you buy one stock make sure it's this one' for the quarter was ADOBE.   Yeah.  It's piss yourself worthy funny.  

Thu, 11/10/2011 - 09:57 | 1865573 HelluvaEngineer
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Makes sense if you don't understand a damn thing about technology.

Thu, 11/10/2011 - 10:17 | 1865672 DeadFred
DeadFred's picture

Cisco greased the ramp-up? Oh sorry that's Crisco.

Thu, 11/10/2011 - 09:50 | 1865535 Nascent_Variable
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The specific numbers are just background noise at this point. 

Rome is burning.  It's plain for all to see.

Thu, 11/10/2011 - 09:53 | 1865552 spastic_colon
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doesnt matter.......today is a 1%+ up day....get your buy orders ready for the mid day ramp

Thu, 11/10/2011 - 09:55 | 1865558 SheepDog-One
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I wouldnt touch this rigged fraud of a casino ran by zombie vampires ever again. But please do tell us your entry points!

Commodities.

Thu, 11/10/2011 - 09:56 | 1865564 sabra1
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am sure the numbers could've been way lower if not for that massive northeastern snowstorm! /sarc.

Thu, 11/10/2011 - 09:57 | 1865567 pods
pods's picture

The winter of discontent is almost upon us.  There will come a day when everyone stops watching the media and usual propagandists for their beliefs.

Pretty soon it will be common knowledge that things are gone and not coming back, no matter what is said.  

Until then, we get to hear weekly cheering of how things will get better next year.

In reality, there is no next year.  Only the slow road down and threat of war.

pods

Thu, 11/10/2011 - 10:01 | 1865592 SheepDog-One
SheepDog-One's picture

Yea exactly, people can tell themselves whatever makes them feel better, self Valium-ing themselves all they like for today, but we are going down.

Thu, 11/10/2011 - 10:21 | 1865701 pods
pods's picture

I know I have not found a way that we resume our collective lifestyle of the last 30 years.  That is actually a good thing, but when people realize that a new way is inevitable, many will not react positively.

pods

Thu, 11/10/2011 - 10:00 | 1865585 Silverhog
Silverhog's picture

These employments numbers don't mean squat anymore. Europe's rapid slowdown will be washing ashore here in the US early next year as demand for our products drop. Were not even close to getting out of the woods yet.

Thu, 11/10/2011 - 10:08 | 1865632 fuu
fuu's picture
99 weeks ago today was  12/17/2009
Thu, 11/10/2011 - 10:32 | 1865758 Shizzmoney
Shizzmoney's picture

Great point here.

Plus, these "jobs" people are getting, are so low in terms of wages and opportunity, that it s NO where near keeping up with the 5y inflation models. 

Wow, we hired 100K people in the retail sector, making minimum wage, crappy benefits, no savings.  How is this an "achievement", considering this sector has always seen employment growth around the holidays, since the 90s? 

Great job, corporate America!  Really picking up your fellow citizens!*

*That is, until you lay them off in February.

Thu, 11/10/2011 - 10:35 | 1865765 Chuck Walla
Chuck Walla's picture

Its a Miracle!  Just when Obumbler needs lower U/E to get re-elected, he gets it!  What a magic unicorn is our Lord, I mean young, fresh neo-communist president.

Thu, 11/10/2011 - 10:50 | 1865836 Printfaster
Printfaster's picture

Too many workers, not enough jobs.  The future is either Zimbabwe where the 99 kill the 1, or North Korea where the 1 enslave the 99.

Give me slavery or give me death.  Death to the workers.  The only path to liberty.

Thu, 11/10/2011 - 11:01 | 1865905 Taffy Lewis
Taffy Lewis's picture

Bloomberg:

"a sign the recovery may be encouraging companies to limit cuts in headcount. "

“Today’s report is a positive sign for the state of the labor market in the fourth quarter,” said John Herrmann, a senior fixed-income strategist at State Street Global Markets LLC in Boston.

 

Well that's just downright rosy: the recovery is encouraging companies to lay off less people? Is that how that works?

And what the hell is a "senior fixed-income strategist"?

Orwell is proud.

Thu, 11/10/2011 - 12:01 | 1866172 BigSkyBear
BigSkyBear's picture

I am guessing the staff and crew on the titanic were assuring the guest  repeatedly "all is fine" ...I somehow feel this is all Deck Chair alignment, if ya catch my meaning. 

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