Initial Jobless Claims: -37K to 391K vs. -4K consensus. Continuing claims -20K to 3,729,000.

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TruffelPig Comments (3325)
 
YES!!!!!!!!!!!!!!!!!!
29 Sep 2011, 08:34 AM Reply Like

youngman442002 Comments (5024)
 
Thats a big drop...wonder why.....
29 Sep 2011, 08:41 AM Reply Like

Stoploss Comments (1727)
 
Does it matter? Germany just threw their country away. It's over. Get your gold protected.
29 Sep 2011, 08:45 AM Reply Like

TruffelPig Comments (3325)
 
What a nonsense......
29 Sep 2011, 08:48 AM Reply Like

blacksilver Comments (100)
 
Here in my office we're starting to see more applications for a job,maybe there unemployment is running out.
29 Sep 2011, 08:52 AM Reply Like

bkpark Comments (325)
 
That may be true, but not relevant to this statistic: this is *initial* unemployment claim numbers, not continuing.
29 Sep 2011, 09:36 AM Reply Like

DubyaT Comments (42)
 
My employer (in the asset mgmt sector) has been hiring like gangbusters. Not kidding. We just brought in 2 new HR peeps from corporate to support the hiring.
29 Sep 2011, 10:01 AM Reply Like

sarabhai Comments (23)
 
Awesome!!! Bestbuy just announced they will be doing half hiring during holiday season.. so will macys and bloomingsdale.. what does this mean.. woprst is not over yet.. but today market will rally.
29 Sep 2011, 08:42 AM Reply Like

OptionManiac Comments (3097)
 
Yes, that will be interesting. We don't know whether or not there will be pent up Christmas buying this coming season. Macy's and Bloomingsdale could have a nightmare on their hands if there is - or will more people just buy with a click of the mouse?
If we could get down to 350K a month, then we will see a ramping up of the economy.
29 Sep 2011, 08:46 AM Reply Like

Bear Bait Comments (593)
 
Macy's plans to increase holiday hiring by 4%.

http://bit.ly/rg3j8h
29 Sep 2011, 08:54 AM Reply Like

OptionManiac Comments (3097)
 
I hope so. Those checkout lines can be dreadful.
29 Sep 2011, 09:20 AM Reply Like

Stoploss Comments (1727)
 
Damn, GLD is going to go to the moon... 10.00 gas, 5 dollar bread.

Better get the thugs stocked up on bread and cheese.
29 Sep 2011, 09:01 AM Reply Like

yoguh12 Comments (74)
 
From MarketWatch...

WASHINGTON (MarketWatch) - New applications for unemployment benefits sank by 37,000 last week to 391,000 to mark the lowest level since April, but a government official suggested the surprising drop may have stemmed from a variety of "technical" issues not captured by normal seasonal adjustments.

I'm 10000% sure the drop was due to 1 of 2 reasons:
1) the unexpected "technical" issue that was not captured so conveniently during a weak market
2) benefits sank because people have been out of work longer than the 99 weeks allowed, so of course they drop off the list. it is a no brainer!
29 Sep 2011, 10:00 AM Reply Like

OptionManiac Comments (3097)
 
Some of the drop was also due to workers in weather racked areas going back to work.
29 Sep 2011, 11:25 AM Reply Like

elvinkwokca Comments (353)
 
yup, you might be right.

It's the same for unemployment rate data too..

data must be viewed with a pinch of salt
29 Sep 2011, 12:01 PM Reply Like

OptionManiac Comments (3097)
 
Hmm..... my comment may be somewhat incorrect. Those are initial claims, though continuing claims would be impacted.
29 Sep 2011, 12:32 PM Reply Like

David R.(Canada) Comments (80)
 
These stats just show that a lot of people went back to school or university.
29 Sep 2011, 04:56 PM Reply Like

TruffelPig Comments (3325)
 
Good idea to explain it actually and would make perfect sense - rather go back and learn something than sitting at home.
29 Sep 2011, 04:59 PM Reply Like

OptionManiac Comments (3097)
 
Those statements do not make any sense. First time claims - that means people who actually lost jobs, not people sitting around.
29 Sep 2011, 06:18 PM Reply Like

Moon Kil Woong Comments (8897)
 
Thrilling and meaningless, especially with margin of error entered. It's just another random trading report that gets churn going.
29 Sep 2011, 05:58 PM Reply Like

escavern Comments (3)
 

Part of the drop was due also to workers in areas of accumulated chilling return to work.
30 Sep 2011, 01:15 AM Reply Like