Initial Jobless Claims: -8K to 470K vs. 450K consensus. Continuing claims -57K to 4,602,000.
Jan 28 2010, 08:31 ET
Initial Jobless Claims:
-8K to 470K
vs. 450K consensus. Continuing claims
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another 470,000 lost......its being ignored on the TV....but its keeps on going.....if the labor pool is shrinking..and this keeps high..pretty soon we are at 20-30% unemployment.....and watch that CBO estimate go to 2 trillion..without all the new crisis´s that are sure to come down the pike....oh boy we are in for a exciting ride..
28 Jan 2010, 08:36 AM
A good number...the 52 week moving average of nonseasonally adjusted jobless claims continues to come down....we peaked in November...positve job growth coming....
28 Jan 2010, 08:37 AM
Two weeks ago pundits were touting the seasonally adjusted moving average (which is now going up again). I am sure if you torture the numbers enough you will find improvement somewhere. After all, we cannot have 100% unemployment.
28 Jan 2010, 08:42 AM
Of course there's positive job growth coming...but when? The snow is going to melt away where I live....eventually.
28 Jan 2010, 09:42 AM
I had a feeling I'd see bbro here playing that same trumpet.
28 Jan 2010, 08:41 AM
Look at a chart for the last 40 years the unemployment rate and the
52 week moving average of nonseasonally adjusted jobless claims
move almost in tandem.....
28 Jan 2010, 08:46 AM
Hiring won't happen until businesses see the revenue to justify it and even then many won't hire as productivity of the existing workers has increased and they want to protect the bottom line even more.
The gutting of the industrial jobs complex will not recover.
Unemployment will continue to go higher into 2012.
I don't think most people realize how much housing drives our economy. One stat I saw stated that the "boom" from 2000-2006 was driven 70% by housing. What's going to replace that? Housing is dead as an asset class for a decade +.
28 Jan 2010, 11:43 AM
Jeez....does that bbro guy ever offer anything based on research?!
Click thru below for some data collected on "real" unemployment. The spin doctors in DC and on TV are going to be fun to watch as the "reported" #'s are going to continue in the wrong direction for a while. I suppose they'll then start talking about the NSA #'s instead of SA, but I'm sure they'll still leave out the dialogue about the EUC line. Getting very concerned that the "discouraged" and "marginally employed" lines are about to turn up meaningfully soon...
29 Jan 2010, 03:37 PM
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