Claims: More Suck
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-09-15 08:44
by Karl Denninger
in Employment
Ignore this thread
Claims: More Suck
 

Nothing good here...

In the week ending September 10, the advance figure for seasonally adjusted initial claims was 428,000, an increase of 11,000 from the previous week's revised figure of 417,000. The 4-week moving average was 419,500, an increase of 4,000 from the previous week's revised average of 415,500.

Oh look, it's going up again!  What do we blame this time?  I'm sure we can find something..... (How about "Your policies suck Mr. President and Congress?")

There's nothing worthwhile in the extended claims data - the total dropped by 25,000 in the August 27th week, but the increases the last couple of weeks are not yet in these numbers.  They will be, but not until we get right up against the employment report for September.

Note that with the claims numbers we're seeing and the trend direction the risk of a negative September NFP report is climbing fast.  If you're wondering what's feeding the panic level in Obama's White House with his "jobs" bill look no further than this series.

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User Info Claims: More Suck in forum [Market-Ticker]
Docj
Posts: 998
Incept: 2009-09-10
Silver
Duck & Cover
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All the data was pretty much uniformly crappy today - so that probably means Fraud Street will rally hard (at least +1%) into the close, as per usual.

Oh, and every time O'stumbleAndFall opens his pie-hole it probably drives 50K votes away from he and his party. At this rate he could be looking at a Carteresque blow-out should he actually chose to stand for re-election. Couldn't happen to a nicer teleprompter.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
Smacktle
Posts: 1358
Incept: 2009-01-20
Green
Texas
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Im doing my part to keep my dentist employed today. Drill baby drill!

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The faults of the burglar are the qualities of the financier.
- George Bernard Shaw
Mayorquimby
Posts: 13907
Incept: 2008-09-18
Green
The Archaic Past
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How many have exhausted the full 99? I have read 3 to 5 million so far.

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They who wish to hurt you, work within the law.
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Gold is theft.
Mortgageguymn
Posts: 1561
Incept: 2009-03-09
Green
North Coast
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I wonder if you might want to do a ticker on Obama's plan to outlaw "discriminating against the unemployed". Maybe it's not worth the attention unless it appears likely to pass - which it probably won't. It sounds like another totally crazy idea to me. As in "where the hell does the government get off?"

It's not that everyone on unemployment is a layabout, but it's also not like everyone on unemployment is NOT a layabout. Let employers do their best to ferret out prospective employees' level of ambition & moral characteristics.
I know people who look at unemployment as a 99 week paid vacation. They have no inclination whatsoever to take a job until they've run out of free money.
Etz
Posts: 13888
Incept: 2007-06-26
Silver
LA
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Don't forget "0bozocare".

Probably the most damaging bill ever written.

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Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora.

Docj
Posts: 998
Incept: 2009-09-10
Silver
Duck & Cover
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Quote:
Let employers do their best to ferret out prospective employees' level of ambition & moral characteristics.


Careful, dude. Crazy talk like that could earn you a visit from Eric (Place)Holder's storm troopers.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
Ls2gto
Posts: 482
Incept: 2007-08-30
Green
East Coast
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This should make for an interesting Christmas shopping season. Unemployed and people on the verge of layoff do not buy much crap from China.
Erica712
Posts: 1910
Incept: 2009-03-16
Green
Central FL
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I don't know how anyone can layabout on the $275 (max.) that you get here in Florida. We're about to cut that down to only 23 weeks from 26 starting in January. Should make for some nice zombie scenes and more families living in their car at the Wal-Mart parking lot (Mount Dora, FL, a few weeks ago)
Starvingartist
Posts: 3430
Incept: 2011-01-03
Green
Puff The Magic Dragon
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You can't Erica. There seems to be some misconception around here about people living high on the hog on unemployment.

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"The only solution that is mathematically sound is politically impossible.
All the should's in the world ain't gonna change that."
Phxkevin
Posts: 353
Incept: 2010-06-25
Green
Phoenix Arizona
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In Arizona, the max UI benefit is $240/week. I'm not sure how accurate this source listed below is. I read somewhere else that Florida actually pays a lot less as only 22% qualify.

Some states are very generous: Mass pays (a max) $942 a week! WoW

http://fileunemployment.org/unemployment....

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Congress persons are all the same, republican or democrat, conservative or liberal. They talk a good game, but the results (or lack thereof) show something different.
Signas
Posts: 909
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Reno
Banned
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I feel turning our military into a mercenary force for the UN is really holding employment back.

Cue a Golf of Tonkin incident we could easily invade another 10 countries sucking up the unemployed.

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