Initial Claims Surge Again, Far Worse Than Consensus As Prior Revised Higher As Usual

Tyler Durden's picture

The BLS playbook in full force today: miss expectations of 405K - check, by printing at 414K; another weekly print over 400K - check (21 out of 22 weeks over 400K), revise prior week's higher - check (from 409K to 412K). Unfortunately, unlike two weeks ago when another blowout miss was reported, this time there is no striking phone carrier to blame it to. And as usual, those coming off their extended claims cliff keeps increasing, with 78K people dropping off EUCs and Extended claims: nearly 2 million people have been cut off from any extended government benefits in the past year. Overall, another weekly data set that confirms that next month's NFP number will most certainly not be positive... or zero.

Weekly initial claims... which are quite sticky.

And all claims which continue declining and have cut 2 million out of subsidized living.

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dwdollar's picture

So that's why markets rallied hard...  Very predictive of them.  Oh wait...

fuu's picture
99 weeks ago today was  10/15/2009
Bob's picture

Thanks for the continuing tallies, fuu. 

spiral_eyes's picture

bullish for ETFs, bitchez.

dwdollar's picture

I admire your persistence.

DosZap's picture


I have a very large cock.

Bet the neighbors are pissed at that SOB crowing every frigging morning like Obama.


Zap Brannigan's picture

Yeah no kidding huh? I'm short the S&P and I'm going to have an aneurysm watching it. I WOULD think that since the markets are going along swimmingly that the Fed couldn't possibly enact some kind of easing, but as you said...

DefiantSurf's picture

Perfect backdrop for the POTUS not jobs speech


SheepDog-One's picture

Yea but tonite he gonna dip into his stash and give out jobs yo!

Cdad's picture

Agreed...and again, this speech as a catalyst for equities [rising as credit burns] clearly indicates the bankrupt nature of Wall Street.  Scraping the bottom of the barrel for catalysts, aren't we?

Good grief.


CrashisOptimistic's picture

Obama has no intention at all of the 300B proposal being approved.

If it was approved, the debt ceiling would not last til election day.

ElvisDog's picture

I agree. It's nothing but a ridiculous political maneuver so he can tell us over and over again how he would have created or saved 2 million jobs had the mean-spirited Republicans only passed his innovative jobs bill. Oh, and the words "cops, firefighters, and teachers" will be said over and over and over.

Anonymouse's picture

Gonna hand out some Obama Money!

Long-John-Silver's picture

$300 billion for 30 minimum wage jobs, Woo Hoo!

DosZap's picture



Hey dude, that's std GOVT jobs creation...................................look at what they get paid to destroy the nation.

lolmao500's picture

BAC to close 600 branches and USPS firing 200 000 people might help the numbers to get to -600k next month.

revise prior week's higher - check (from 409K to 412K).

Yeah total coincidence that it has happened in EVERY SINGLE WEEK since AT LEAST 2007 uh? Always revised up, never down...

Quintus's picture

Yeah.  I wouldn't like to play dice against the BLS guys.  They're the sort of people who can throw 40 sixes in a row, it seems.

Beam Me Up Scotty's picture

Or get 18 hole-in-ones on a round of golf?  Fearless leader BITCHEZ!!!

DosZap's picture

Don't forget Payless closing 475 Stores...............folks are going w/out inexpensive shoes now.

Crassus's picture

Bring back the Postal Savings System. Convenient for military members and the banks don't want the small accounts anyway.

RockyRacoon's picture

Oh, sure.   And have the USPS treat those savings like the gov't treats the Social Security "lock box".  No thanks.

If we think the Fed has the best game in town by being able to print money at will, you ain't seen nothin' like the USPS.  They can print  postage with any denomination on it -- for the same cost of production for all the "accountable paper" that they produce.

tip e. canoe's picture

better yet, have the USPS start selling gold & silver from the US Mint over the counter.

Poundsand's picture

I think we can blame this month's numbers on the HUGE and totally unexpected layoffs of non-unionized ice cream truck drivers this month.  It's gotta be something.

oobrien's picture

High unemployment in America?

Say it isn't so!

What a fucking shocker.

Will Superman please return to Earth and set everything straight!

That's a fucking order.

Sudden Debt's picture


Just as we orderd 2 big ass spotlights in New York near wallstreet on 9/11 on ground zero....

all for nothing....


Careless Whisper's picture

The Morning Careless Whisper Report

New Hand-Built Sports Car: Made In Mexico

Charles Manson "Caught" With Cell Phone,0,7962033.s...

SEC Will Stop Breaking The Law; No More Shredding

DC Police; New App For Suspicious Activity - iWatch

Drunk DC Cop Alledgedly Shoots Tranny For Refusing His Advances

Detroit Schools First Day; 45 % Stay Away - Beauracrat Says "Off To Good Start"

Former German Defense Minister: 9/11 Was An Inside Job,1518,784673,00.html




Muddy1's picture

Maybe that is why he is now the FORMER German defense minister.  He went off topic.

Careless Whisper's picture

I usually post the morning news items I find interesting under the Front-Running post about news. I know I'm off topic here; my bad.  Oh, I forgot this one: New Ben & Gerry's Ice Cream Flavor (It was Alec Baldwin's idea)


lolmao500's picture

DC Police; New App For Suspicious Activity - iWatch

People should be calling all the time... There's suspicious activity in congress and at the White House...

DefiantSurf's picture

I should create a riot app that lets you send a live stream to all of the news agencies simultaneously

Crap, now I'm on yet another list...


SheepDog-One's picture

I dont see how its possible we've lost this many jobs for so long. Theyre in full speed demolition mode while saying all is well to keep the sheeple calm with a check.

tip e. canoe's picture

the real story buried in the Manson article:

Also Wednesday, the Assembly overwhelmingly approved a Padilla bill that would grant expedited legal review to Anschutz Entertainment Group's proposal for a 72,000-seat football stadium in downtown L.A.

"The goal of the bill is simply to get people back to work sooner rather than later," Steinberg said

translation : we need to get those union & contractors' donations into our election coffers stat!

also buried in the article:

The Assembly also approved measures that would allow San Francisco to raise its vehicle license fees and would implement a pilot project in four counties allowing hemp to be grown for industrial purposes.

andybev01's picture

So we're emulating the Chinese with our own 'ghost cities' now?

Problem Is's picture

Charles Manson "Caught" With Cell Phone

The current photo of Baldy Manson looks just like Bennie "The Cue Ball" Bernank...

Uncanny Resemblance
Hell, they could be brothers...

doomandbloom's picture

due to the weather i preseume...

whats happenin with Katia?

CoolBeans's picture

Hah, yes - I was waiting for that...."With all the hurricanes, tropical depressions, earthquakes along Bush's fault...".    Once upon a time, a disaster swath such as hurricane Irene would result in an increase in work - repairs, lots o' work to do, rebuild housing, etc.  NOt so much anymore, I guess. 

Arrowhead's picture

why rebuild when you can buy 6 houses in Detroit on Ebay for $12?

jdelano's picture

fracking earthquakes.    dey tuk er jobs!

RSloane's picture

Obama will save us tonight~!

andybev01's picture

I am so sorry, but this is what popped into my head after reading your comment;


my bad.

SheepDog-One's picture

No problem, markets reply to obvious economic collapse by rising a few % today, baking in more 'QE3 euphoria' which will consist of hand-holding some bond rate curves. What does 1 have to do with the other? Absolutely nothing, welcome to the New World Order.

Muddy1's picture

He'll propose extending the jobless benefits beyond the current 99 weeks.  Afterall it's those jobless benefits that stimulate the economy, and buy votes.

SheepDog-One's picture

Pretty grim when the only real economic activity is people spending their govt handout checks.

DefiantSurf's picture

But each $1 spent creates $1.84! Didn't you get the memo?

tmosley's picture

Because the unemployed go into 84 cents of debt?

Mercury's picture

And again it looks like those who BTFD in gold on yesterday's dip will be rewarded...but even sooner than last time.