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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Weekly jobless claims
PostPosted: Thu Aug 04, 2011 12:39 pm Reply with quoteBack to top

bdc63 wrote:
In this thru-the-looking-glass world that we live in, this is seen as "good news" 'cause the claims are under 400,000 (uhm, 398? - you're really excited about being 2K below 400K? -- have you noticed that EVERY week the prior week is revised up??????)


As predicted, last week was revised up above 400,000 (to 401,000) and this week has come in down 1,000 to 400,000 even (which of course will also be reivised up next week as well 'cause that's what they do).

We are now at 17 straight weeks of 400K+ job loses.

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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Weekly jobless claims
PostPosted: Thu Aug 18, 2011 12:38 pm Reply with quoteBack to top

up 9000 to 408,000

prior week was revised up to 399,000 (hey! it's still below 400,000! - somebody pop the champagne Wink )

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
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Location: Maryland

Re: Weekly jobless claims
PostPosted: Thu Aug 25, 2011 1:01 pm Reply with quoteBack to top

last week's 408,000 was revised up to 412,000

and week ending 8/20 was up another 5000 to 417,000

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Weekly jobless claims
PostPosted: Thu Sep 01, 2011 12:54 pm Reply with quoteBack to top

8/27 comes in at 409,000

prior week was revised up to 421,000 from 417,000

so much for breaking through that 400K number -- I think we've had one print in the 300's that didn't get revised away the next week.

but in this through the rabbit hole word we live in, this is the headline that CNBC is running: "Fewer File Jobless Claims as Layoffs Stabilize" ... I guess the fact that the prior week's numbers ALWAYS get revised up is completely lost on CNBC.

continuing claims has also ticked up again to 3.75 Million

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdk
Wrecking crew


Joined: 24 Mar 2008
Posts: 1611
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Re: Weekly jobless claims
PostPosted: Thu Sep 01, 2011 5:22 pm Reply with quoteBack to top

they are all making like 400k is a good thing!

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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: Weekly jobless claims
PostPosted: Fri Sep 02, 2011 4:24 am Reply with quoteBack to top

What I am not getting from these numbers is the negative revisions.

You would assume that the numbers reported reflect the applications for unemployment. just because one applies for U/C does not mean they will automatically get approved for it. Why are there NOT any downward revisions.

As far as revisions go anyway ... do we not have computers connected to the internet that would give a "live" status of how many names have been entered into the system for unemployment?

lastly, what is the true effect of the Verizon strike on the numbers? Should we expect a nice downward effect, now that they are back to work? Something near 21,000 Verizon workers were eligible to apply for benefits.

I can't wait for tomorrows unemployment numbers to come out.

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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: Weekly jobless claims
PostPosted: Fri Sep 02, 2011 5:39 pm Reply with quoteBack to top

they're out a they're a lie...the real rate is north of 20%...AND NOT 9.1%.

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Rotag
Wrecking crew


Joined: 01 Nov 2007
Posts: 1722

Re: Weekly jobless claims
PostPosted: Sun Sep 11, 2011 1:31 am Reply with quoteBack to top

I continue to be amazed that 400k file for UE every freaking week for over two years.

Orlando has a metropolitan pop just over 2 million. So every 5 weeks we lose the entire metro pop of Orlando and obviously not every person in a metro pop works. 104 / 5 is approximately 20.

FYI orlando is the 27th biggest metro pop in the country.

http://en.wikipedia.org/wiki/Orlando,_Florida

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bdk
Wrecking crew


Joined: 24 Mar 2008
Posts: 1611
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Re: Weekly jobless claims
PostPosted: Sun Sep 11, 2011 3:11 am Reply with quoteBack to top

Bush, GOP, Congress, earthquakes, tsunamis, hurricanes, conservatives, TEA party's fault... didnt you know?!

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Remember remember the fifth of November. Gunpowder, treason and plot. I see no reason why gunpowder, treason
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Rotag
Wrecking crew


Joined: 01 Nov 2007
Posts: 1722

Re: Weekly jobless claims
PostPosted: Sun Sep 11, 2011 12:17 pm Reply with quoteBack to top

I almost don't care who's fault it is. In an emergency you fix it and deal with causes later.

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