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Initial Jobless Claims: -8K to 355K vs. 370K consensus, 363K prior. Continuing claims -135K to...

Initial Jobless Claims: -8K to 355K vs. 370K consensus, 363K prior. Continuing claims -135K to 3.12M.
Comments (9)
  • Ganeshdindodi
    , contributor
    Comments (75) | Send Message
     
    Recovery ! Recovery ! Job Market is on path to recovery.
    8 Nov 2012, 08:32 AM Reply Like
  • jhooper
    , contributor
    Comments (6028) | Send Message
     
    Shouldn't you consider that the recent storm prevented some people from applying for benefits? Nothings really changed. The 360s is probably where it is still at. Next week or the week following might prove to be higher.
    8 Nov 2012, 09:07 AM Reply Like
  • Wahoo82
    , contributor
    Comments (36) | Send Message
     
    Obama economy is going full bore.
    8 Nov 2012, 09:14 AM Reply Like
  • jhooper
    , contributor
    Comments (6028) | Send Message
     
    We will have to wait a few weeks to see how the weather affected things.

     

    http://bloom.bg/T9b3SI

     

    Another relevant blurb.

     

    "Initial claims have been increasingly volatile of late due to data difficulties ranging from state (non) reporting to seasonal effects. The challenges are far from over. Although it's too soon for the effects of Sandy to be felt, they will be soon. Recall the first week after Katrina hit claims rose only 8k but jumped more than 100k in the weeks to follow then remained elevated for months. We expect claims could pop to 450k in the short term. Like last month's non farm payroll report, this is likely the last clean jobless claims report until 2013."
    8 Nov 2012, 09:58 AM Reply Like
  • jhooper
    , contributor
    Comments (6028) | Send Message
     
    "Applications for jobless benefits surged by 78,000 to 439,000 in the week ended Nov. 10, the most since April 2011, the Labor Department said today in Washington."

     

    Its always good to cast a skeptical eye at gov figures. Since the gov can't hire angels, they must hire people. People are driven by incentive structures, and those incentives may be in contrast to yours. As such, its always useful to cast an eye of professional skepticism at any data produced by any human in such circumstances.

     

    The people at the BLS may not intend to produce misleading data, but the system in which they operate forces them into that scenario. Storms are a perfect example. One week its low, the next week its high. The volatility comes from the poorly designed system. As long as you recognize that, then you can get a little value out of the reporting.
    15 Nov 2012, 09:03 AM Reply Like
  • Maninder Batra
    , contributor
    Comments (572) | Send Message
     
    More US govt lies as usual.
    8 Nov 2012, 08:47 AM Reply Like
  • saachary
    , contributor
    Comments (8) | Send Message
     
    The labor participation rate along with the jobless rate should be in the headline. A target should also be established for the labor participation rate.
    8 Nov 2012, 08:49 AM Reply Like
  • bbro
    , contributor
    Comments (9732) | Send Message
     
    Add 10,000 to 15,000 for New Jersey...probably...
    8 Nov 2012, 08:50 AM Reply Like
  • Papaswamp
    , contributor
    Comments (2198) | Send Message
     
    ...another week with +300,000 NEW claims. Just think how 2013 will look when all those new taxes kick in and the HC hit on businesses.
    8 Nov 2012, 05:20 PM Reply Like
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