Jobless Claims: +368k
The Market Ticker ® - Commentary on The Capital Markets
Posted 2013-01-31 08:45
by Karl Denninger
in Employment
Ignore this thread
Jobless Claims: +368k
 

Oops...

In the week ending January 26, the advance figure for  seasonally adjusted initial claims was 368,000, an increase of 38,000 from the previous week's unrevised figure of 330,000. The 4-week moving average was 352,000, an increase of 250 from the previous week's unrevised average of 351,750.

The unadjusted figure is roughly in-line this week, 366k.  One wonders -- did the DOL simply "erase" the last couple of weeks of spike?

Hmmm...

What the hell is that?  EUC goes up over 400,000?  I thought EUC was ending as people rolled off and the program disappeared?  That's not supposed to happen, but it clearly did.

I'm not sure what's going on here, but the internals on this data are just plain odd.  As such and that this was right into the sample week I can't make a prediction for tomorrow -- unfortunately -- as this could easily swing the number 200k in either direction!

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User Info Jobless Claims: +368k in forum [Market-Ticker]
Gable
Posts: 413
Incept: 2009-07-04
Green
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Quote:
EUC goes up over 400,000? I thought EUC was ending as people rolled off and the program disappeared?



Could it be:

From the NC UI website:
Quote:
The EUC08 program has been extended. The last payable week will be December 28, 2013. Eligible claimants should continue to file weekly certifications as usual.




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In all of history, no government became more honest, less corrupt, or granted its citizens more rights as it grew in size. E.L. 2011

Ellie's Law-As an online discussion about the failures of the Obama Administration continues, the probability someone shouting "It's Bush's Fault" approaches 1
Iou
Posts: 1027
Incept: 2009-03-16
A True American Patriot!
The Twilight Zone
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"Odd" can be used to describe a lot of things these days. Another word that comes to mind is "Fraud".

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"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Frédéric Bastiat
Curbyourrisk
Posts: 3595
Incept: 2008-08-19

Farmingdale, NY
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http://www.ows.doleta.gov/unemploy/supp_....

Quote:
EUC is a 100% federally funded program that provides benefits to individuals who have exhausted regular state benefits. The EUC program was created on June 30, 2008, and has been modified several times. Most recently, the American Taxpayer Relief Act of 2012 (P.L. 112-240) extended the expiration date of the EUC program to January 1, 2014.

Please note that this enactment does not provide additional weeks of benefits to individuals who had already exhausted all entitlements under previous law.


I guess you have to read everything before you vote on it.

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Time is up.

I hate to burst your bubble, but there is no Santa Claus, the tooth fairy does not exist and American justice does not involve the courts.

Checkthisout
Posts: 167
Incept: 2010-10-01
Green
Cary, NC
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HOLY CRAP! I never though I'd live to see the day.

Liesman admits the truth: That the government's deficit spending is propping up our GDP and the Fed's printing policies won't offset it when we start reducing the budget deficit & he partially admits the fact that GDP MUST contract in order to get out of this mess.

His bit starts at 7:30

http://video.cnbc.com/gallery/?play=1....


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There are no gun free zones where free men tread.

Reason: correction
Mediocre_fred
Posts: 80
Incept: 2008-09-22

The Sticks, Washington
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Also, some number of people got temporary jobs for the holidays. When they got laid off after the first of the year, they would be resuming their previous claim, not generating a new one.
Rentier
Posts: 193
Incept: 2010-06-19

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Who cares about this number, what percent/number of 18 and older Americans are employed? That's one you can't fuzzy.
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