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Initial Jobless Claims: -10K to 390K vs. 400K consensus. Continuing claims -92K to 3.69M vs....

Initial Jobless Claims: -10K to 390K vs. 400K consensus. Continuing claims -92K to 3.69M vs. 3.68M consensus
Comments (23)
  • Not bad, I like it
    10 Nov 2011, 08:35 AM Reply Like
  • Excellent piece of data. Another nail in the recession coffin.

     

    E
    10 Nov 2011, 09:02 AM Reply Like
  • Floods in Thailand, earthquakes in Japan, chaos in Europe. Will the US save the world again? (as in after WW2). We pulled out of the depression by supplying the world with good (our factories were never bombed) and Europe had no many back then, either. Interested in your comments, Econdoc.
    10 Nov 2011, 12:49 PM Reply Like
  • Maniac -

     

    despite the activity of the Redistributionist in Chief and the various roadblocks and pitfalls the US is chugging along. The US has many advantages even this dope cannot completely squander.

     

    Demographics are on your side - the US is ageing less slowly than all developed nations and even a few developing nations. Property rights and stable government that is largely immune to one man's stupidity. Very wide and deep capital markets. Just to name a few.

     

    The US depends less on exports and its financial sector is now looking strong relative to the rest of the world. And US Corporates are second to none.

     

    2 to 3% growth in this environment is good. Not enough but you would rather be here than China or Europe or Japan or you name it. There's a reason why they keep coming and coming.

     

    E
    10 Nov 2011, 11:36 PM Reply Like
  • Too many forget that we are still number one in manufacturing. A buddy of mine oversees a small plant that makes circuit boards for lotto machines, a market to small for China's mass production facilities. A lot of these "small" manufacturers are right underneath the noses of those who feel we produce nothing anymore.
    11 Nov 2011, 06:57 AM Reply Like
  • Hopefully we will see the number keep going down as seasonal hiring picks up. A job's a job and jobs beget jobs.
    10 Nov 2011, 09:22 AM Reply Like
  • With all the people that have flat out given up on looking for work; this is now meaningless number/ indicator… Perhaps a meaningful tracking (KPI) would be to adjust and factor how many people have fallen off their benefits each week, under employed (PT vs. F/T) and the total number of people who are unemployed and not collecting and federal / state benefits. Lastly, let’s not forget to add in the number on welfare.
    10 Nov 2011, 09:41 AM Reply Like
  • The first number represents "initial claims", not ongoing claims. These are people who have just lost their jobs. Those on welfare aren't working so they cannot be part of this statistic. The number has gone down now for a few months, but really has to be in the low 300k to really make a dent in unemployment. The number of job openings has been growing, but getting more difficult to match qualified individuals with proper openings.
    10 Nov 2011, 10:14 AM Reply Like
  • "The number of job openings has been growing, but getting more difficult to match qualified individuals with proper openings."

     

    Wow! It sounds like we need to double the size of the Department of Education and hire more teachers since people are no longer in the Abe Lincoln model of studying and improving themselves. :-(
    10 Nov 2011, 11:37 AM Reply Like
  • dectra-

     

    Here here.

     

    Poor Texan - for the most part, we are a very well educated people, just in the wrong fields. Talk to Caterpiller or Siemans - they cannot find enough qualified people. 50% of college students never get a degree - we need to TRAIN workers, not just educate them, there is a difference.
    Just hired a vet today, he had three tours in Iraq and one in Afganistan. And he lives right around the corner.
    10 Nov 2011, 12:46 PM Reply Like
  • I've never seen a public school textbook that says anything about creationism other than the simple fact that some people don't believe in evolution. And since I've never attended a private school I can't opine on that side!
    10 Nov 2011, 01:40 PM Reply Like
  • Interesting in my area - public school will not teach evolution until AP (advanced placement) Biology. Private Catholic school has no problem teaching evolution.
    10 Nov 2011, 02:03 PM Reply Like
  • Option Maniac

     

    In general I can't disagree about the necessity for training. But training is only good for what is already known. From before Thomas Edison through Steve Jobs, growth came from unknown areas. Teaching the intellectual curiosity to move beyond what is in front of your nose is our failing. I have a seventeen year old that does very well in repeating back what he is taught in school but I can't get him to THINK and build on that knowledge. My father, with an eighth grade education, learned new things through observation and experimentation to satisfy his curiosity. Our formal systems are failing in this regard because there is no reward to a teacher (other than personal satisfaction) for breaking a student out of the straight jacket of training. Most people on this board are trying to think of what others hadn't thought of and that's why I like it. Sorry for the sermon.
    10 Nov 2011, 02:18 PM Reply Like
  • Hey, that was no sermon, that was furthering a discussion. The Chinese are trying to emulate our educational system, because theirs is worse than ours when it comes to creative thinking (that's why they steal OUR technology). I think that part of the problem is cultural. I used to have to fiddle with the points and timing to get my car to run right, now they just run. Things were easier to take apart to see how they worked, now you take something apart and you stare at a circuit board. And yes, this machine I'm thumping on has given us all ADD, so it is hard to focus on just one thing. I really don't blame our educational system, both my kids had great (and some bad) teachers in public school. They both came out creative and ready for the world that was out if front of them. Of course, a lot of that was my (our) responsibility. Teachers are humans and not superpersons.
    10 Nov 2011, 05:51 PM Reply Like
  • "Of course, a lot of that was my (our) responsibility."

     

    Amen. The key is it is the families responsibilty to encourage knowledge and the educational system can only provide the tools. As an immigrant family, we had a high respect for gaining knowledge. Although I had to get my bachelor's and master's at night school, there was always encouragement from the family. My own adult children have surprised me by how much they said they learned from me when I don't remember teaching them. I guess they just paid attention to what was going on around them (and they had a good mother). And that is what is so sad about the breakdown in family life. But I digress. Regards.
    10 Nov 2011, 09:32 PM Reply Like
  • a2

     

    You need to understand what this number is telling you.

     

    It is the number of people who filed for unemployment - these people have been fired. This number goes up when things are bad and goes down when things are better - it is a very nice indiactor of activity - virtually real time of what is happening. Less firing means businesses are under less stress. It may or may not mean more hiring usually it goes hand in hand but not always.

     

    The unemployment rate and particiaption rate and all these other things are not directly related to this - they are lagging indicators.

     

    This is good news.

     

    E
    10 Nov 2011, 11:27 PM Reply Like
  • Yeah more wage slaves! Love it. We need that tax revenues to pay for my SS and Medicare! W00t!!
    10 Nov 2011, 01:32 PM Reply Like
  • This is all temporary.. Jobs are not growing when you compare it to the birth/death overlay..Its all B.S. Gotta keep in mind that even though unemployment went down those people are not counted in the rate. Unemployment is over 30%...Inflation is persistent and the rest of the world is going down..especially Europe, where debt to GDP is over 100% in many countries like Italy, Greece..etc..

     

    Its a mathematical certainty. China is already seeing signs their bubble is about to pop. Next year will be key. Remember also foreclosures are up 10% in October from September..so more and more people are losing their homes because they are either losing their jobs, or their negative equity makes it not worthwhile....

     

    J
    11 Nov 2011, 12:58 AM Reply Like
  • Jeez, should I fall on my sword now? Your wife better hide the bottle of sleeping pills from you.
    11 Nov 2011, 07:01 AM Reply Like
  • No you should hang yourself.
    12 Nov 2011, 03:18 AM Reply Like
  • Sorry, I'm the optimistic type, maybe to a fault, but I sleep like a baby.
    12 Nov 2011, 10:13 AM Reply Like
  • You shouldn't be the optimistic type. You should be more realistic and factual in your responses. The country is falling apart and its people like you who are to naive to see whats actually happening all around us.

     

    Let me know if you need those sleeping pills for yourself.
    13 Nov 2011, 08:17 AM Reply Like
  • People have been saying this country has been going to pot as long as I can remember, and way before I was even a gleam in my mother's eye. I look around me and do not see a country "falling apart". I see many men and women working, raising their kids, and enjoying life. Sure, there are many who are suffering, but remember, out of the suffering of the Great Depression (and people suffered FAR more then, my parents were kids who lived through it) came our country's "Greatest Generation". Yeah, there are a heck of a lot of problems out there, they will be slowly solved, people will suffer, but we will survive.
    Hey, I lost sleep during the Asia crisis in the '90's, lost some money then. I don't let things like that get at me anymore, life is too short. I'll retire when I can afford it, not when I want to, nothing is for free in this life.
    13 Nov 2011, 11:44 AM Reply Like
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