Jobless Claims Up! They Can’t See The Forest Through The Tree

 

From Zacks reproduced by Townhall

Jobless Claims Increase More than Expected – Real Time Insight

 

Today’s weekly jobless claims showed a sharp increase of 38,000 in new claims to 368,000. This compares to last week’s 330K, and estimates of 350K for this report. Continuing claims also grew, adding another 22,000 to that list. ……

Interestingly enough, today’s Challenger Job-Cut Report showed a relatively low number of announced layoffs (40,430 vs. last year at this time of 53,556), suggesting the four-week average in the report above is the better barometer to look at regarding the jobs picture.

Attention however will quickly shift to tomorrow’s Employment Situation report where the government will release the number of new jobs created for both the public and private sector. Yesterday’s impressive ADP estimate of 192,000 private sector jobs created has raised expectations for tomorrow’s official reading. At the moment, the consensus for the BLS report tomorrow is for 185,000 new private payroll additions.

Better than last year?  Well, when you have fewer people to layoff, fewer people will be laid off.  It’s really not that hard to figure out. 

image

source

Barry Zero the anti-Reagan.  Not since the days of Carter have we seen labor participation this low. 

This entry was posted in Economics. Bookmark the permalink.

5 Responses to Jobless Claims Up! They Can’t See The Forest Through The Tree

  1. philjourdan says:

    See? his jobs council work is truly done.

  2. tckev says:

    Well it’s obvious – more QA!
    You know it make sense.

    /sarcoff

  3. Pingback: New Unemployment Numbers Out!!! Same As The Old Numbers!!! | suyts space

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s