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Initial Jobless Claims: -23K to 393K vs. 390K consensus, 416K prior (revised). Continuing claims...

Initial Jobless Claims: -23K to 393K vs. 390K consensus, 416K prior (revised). Continuing claims -70K to 3.28M.
Comments (16)
  • bbro
    , contributor
    Comments (9841) | Send Message
     
    Good numbers....
    29 Nov 2012, 08:34 AM Reply Like
  • GaltMachine
    , contributor
    Comments (1144) | Send Message
     
    bbro,

     

    What is your 52 wk avg of NSA claims doing at this point?
    29 Nov 2012, 09:53 AM Reply Like
  • bbro
    , contributor
    Comments (9841) | Send Message
     
    Moving south after a massive blip up 2 weeks ago...following a better pattern than Katrina....still well south of the 52 avg at the end of the 3rd qtr....
    29 Nov 2012, 10:45 AM Reply Like
  • kwm3
    , contributor
    Comments (2453) | Send Message
     
    I will presume you're being sarcastic, because my reaction is: holy sh*t!! we're 4 years into this cataclysm and we're bleeding jobs--we just had a population the size of Pittsburgh file first time jobless claims last week. And almost every week prior. The number is astounding.
    29 Nov 2012, 11:22 AM Reply Like
  • Tack
    , contributor
    Comments (13562) | Send Message
     
    kwm:

     

    Do you realize that weekly unemployment claims average over 300K even when the economy is booming? People get fired all the time. It's life.
    29 Nov 2012, 11:33 AM Reply Like
  • Topcat
    , contributor
    Comments (435) | Send Message
     
    Actually, if you are fired for cause, you cannot collect unemployment.
    29 Nov 2012, 01:13 PM Reply Like
  • Jason Tillberg
    , contributor
    Comments (1258) | Send Message
     
    four week moving average up 7,500.. to 405,250.. but prior weeks average revised up about 5k!

     

    smells like recession is brewing.
    29 Nov 2012, 08:34 AM Reply Like
  • bbrady413
    , contributor
    Comments (757) | Send Message
     
    Jason, nobody looks at the revisions. Its always revised up! But the headlines need to look good for the administration.
    29 Nov 2012, 08:42 AM Reply Like
  • bbro
    , contributor
    Comments (9841) | Send Message
     
    Need to follow history of jobless claims with Katrina...other non Sandy states showing no signs of recession
    29 Nov 2012, 08:43 AM Reply Like
  • Petrarch
    , contributor
    Comments (767) | Send Message
     
    Heading back to mid 300's - on schedule

     

    As for a recession - I think we will know on Friday at 11.38am
    Although this morning - Lakshman - bless his heart - repeated his call - from August 2011 - that we are there now.

     

    P
    29 Nov 2012, 09:10 AM Reply Like
  • jhooper
    , contributor
    Comments (6045) | Send Message
     
    Terrible numbers. Only people that don't care about suffering could think otherwise, or people that have a political agenda that requires conditioning people to austerity.

     

    Until these numbers are down in the low 300s and NFP is above 450k, will we be able to say we are seeing good numbers.
    29 Nov 2012, 10:07 AM Reply Like
  • Tack
    , contributor
    Comments (13562) | Send Message
     
    Hoop:

     

    "Only people that don't care about suffering ...."

     

    Anybody who even allows that phrase to enter their cerebellum while trying to make investment judgments is quite likely to make grave errors. Investing isn't a social studies class.
    29 Nov 2012, 10:57 AM Reply Like
  • jhooper
    , contributor
    Comments (6045) | Send Message
     
    The sad thing is I make alot of money off of suffering, but what is even sadder is that I could make a lot more if people weren't indifferent to it.

     

    Ask yourself this, would your investment opportunities be greater in an economy where UE claims were under 300k a month and NFP was over 500k a month and GDP was in the 8% to 9% range?

     

    Granted all environments offer opportunity, and if you understand them you can profit from them. However, if you don't understand that some environments offer even better opportunities so you continue to advocate for the status quo then that is just as futile.
    29 Nov 2012, 12:43 PM Reply Like
  • bbro
    , contributor
    Comments (9841) | Send Message
     
    "NFP is above 450k"

     

    don't hold your breath...
    29 Nov 2012, 10:45 AM Reply Like
  • Tack
    , contributor
    Comments (13562) | Send Message
     
    Aside from Sandy, another factor that is going to impact unemployment claims, as the year closes, and perhaps longer, is the "Obamacare effect." When Obama was re-elected any hope that some employers may have harbored about Obamacare's repeal evaporated. Likely, some are trimming payrolls, accordingly.
    29 Nov 2012, 11:36 AM Reply Like
  • jhooper
    , contributor
    Comments (6045) | Send Message
     
    Obamacare kicks in at 50+ full time employees. France has a similar rule for employers. As a result France has 2 to 1 more employers with 49 employers than those with just over 50. This will affect the margins in the US as well. Companies with 50 employees shaving off 1 person, or just over 50 turning just the number of full time folks they need to, to get under 50.

     

    Remember Obamacare (like all gov programs and unchecked regulations) is price fixing. Price fixing ignores reality, so you get surpluses for things people don't want and shortages for the things they do.
    29 Nov 2012, 02:57 PM Reply Like
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