Skip to comments.Initial Claims Soar To 439K, Non-Seasonally Adjusted Surge By Whopping 104,548 In One Week
Posted on 11/15/2012 6:13:43 AM PST by Perdogg
Get ready for the "it's all Sandy's fault" barrage, because the post-reelection status quo sure will desperately need it today. The latest initial claims data posted a multi-year high 104,548 surge in weekly NSA claims from 361,800 to 466,348, and even the Seasonally adjusted number soaring from 361K to 439K on expectations of a 375K print. In other words, a complete disaster for any economic data bulls. What is truly amusing is that the same Wall Street "experts" who set expectations were unable to foresee the Sandy effect that every "macrotourist" on Twitter apparently is so very aware of. Also, it is apparently also "Sandy's fault" (now that the Bush excuse is back in retirement) that the prior week's claims were revised from 355K to 361K. Basically, just as we said 3 weeks ago, ignore every negative data point: it is Sandy's fault. However, for the snapback, when there actually is good news to be had, well, "four more years." Finally, to all the Sandy apologists: is the logic here that: if Hurricane, then Fire everyone? Because that is what is implied. To summarize: a hurricane is good for GDP (lots of broken windows), but any actually negative news (surge in firings) is perfectly expected.
(Excerpt) Read more at zerohedge.com ...
I can’t imagine why...............
obamacare means cheaper, more plentiful healthcare. So why are companies firing people? /no sarcasm tag needed
Hurricane Sandy’s Fault! ROTFL!
We are like a rudderless ship steaming at flank speed in a field of icebergs.
I hope this won’t affect Obamas’ golf game.
Put it on your calendars now, kids: Monday, December 3rd, 8:30am. Should be good for a few laughs. Especially from the vicinity of the White House... "Hah!!! We thumbed the stupid unemployment rate down into the 7s and the idiots actually believed it, rather than their own eyes!!! Stupid sheep!"
My guess: 8.5%, and heading higher.
Who in the he77 didn’t see this coming? With the BS numbers that they have been putting out for the past couple of months, they have to bring the reported figures somewhat into line eventually. I don’t have a doubt that the real figure exceeds a half mil. BLS: Bulls*** Labor Statistics.
They’re just putting back all the unemployed people they threw away for the past two months now that mission is accomplished: Dear ruler is reelected.
Unexpectedly, of course.
I’ll see your 8.5% and raise you gas at over $4 again.
Check this out. Hostess says they will shut down the whole operation if workers don’t come in by 5PM EST.
That will add another 18K to the unemployment rolls.
you can convince me that these numbers weren’t goosed for the election.
And next week they will be quietly revised upward to around 500K.