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Initial Jobless claim dives 23k to 298K

  • Initial Jobless Claims:  -23K to 298K vs. 322K consensus, 321K prior revised (316K prior week).
  • Continuing claims -21K to 2.74M.
Comments (5)
  • Petrarch
    , contributor
    Comments (633) | Send Message
     
    a good number, too hot
    P
    5 Dec 2013, 08:39 AM Reply Like
  • mrdirt
    , contributor
    Comments (415) | Send Message
     
    Week ending Nov 30 th 298k, Due to theThanksgiving Holiday? Only a 3 day work week. Let's wait for the revision next week. Then again who is left to layoff? only part timers and temps.
    5 Dec 2013, 08:49 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3304) | Send Message
     
    First one I've seen below 300k in a long time.
    5 Dec 2013, 08:46 AM Reply Like
  • mrdirt
    , contributor
    Comments (415) | Send Message
     
    Initial Claims Tumble To 298K As BLS Warns Of "Holiday Volatility"
    If yesterday's "great" news in the form of a 200K+ ADP, which sent the market sliding, was offset by the "ugly" news of the Service ISM which sent stocks soaring, today there are only "good cops" - first it was the revised Q3 GDP number print far above most expectations, purely on the back of inventory accumulation which however will now detract materially from Q4 growth, and at the same time, feeding the taper fire, the DOL announced that claims for the week ended November 30, which tumbled to 298,000 a 23K drop from a last week's upward revised 321K, the best print since September 2013, and the biggest beat of expectations of 320K since also September 2013, which was when the DOL started upgrading various computer systems making all data unreliable.

     

    Continuing claims also declined by 21K to 2,744K, below expectations of 2800K and down from a revised 2765K.

     

    And while futures assume the number immediately means the probability of a December taper surges, the DOL quietly added that it is "not unusual for claims to be volatile in holidays."

     

    In other words, the random number generator was working overtime and expect next week to be in the mid 300s

     

    http://bit.ly/1cnQ3CS
    5 Dec 2013, 10:08 AM Reply Like
  • Petrarch
    , contributor
    Comments (633) | Send Message
     
    not random
    4 week trend is all in one direction
    this number matters
    P
    5 Dec 2013, 01:07 PM Reply Like
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