Continuing Claims Surge To 4Mo. Highs, Biggest Spike Since Lehman

While we are sure this will be quietly revised away through the magic of the labor department's statistical shenanigans (even though they note no "unusual" factors, this week saw the biggest WoW rise in continuing jobless claims since Nov 2008. While drawing any linkages to the collapse in the oil-well-permits is premature, the coincidence of the last 2 weeks seing a dramatic trend change in continuing claims is noteworthy.

 

 

*  *  *

Is this the start of the Shale Oil industry collapse contagion spreading to the broad economy?