U.S. initial jobless claims rise by 23,000 to 302,000 last week

Investing ^ | 07/31/2014

[SeekAndFind]

The number of people who filed for unemployment assistance in the U.S. last week rose more than expected, dampening optimism over the strength of the labor market, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 26 increased by 23,000 to a seasonally adjusted 302,000 from the previous week’s total of 279,000, which was the lowest since May 2000.

Analysts had expected jobless claims to rise by 22,000 to 301,000 last week.

[SeekAndFind]

It's fun with Thursday jobs numbers once again.

[Gene Eric]

more than expected

unexpected

more than expected

unexpected

...

[nhwingut]

Headline on Yahoo: ‘Initial jobless claims in line with expectations’... LOL!

[Mouton]

The “thorn” in the side of the numbers this time is the super rise in employee costs. Not being mentioned, these “costs” are mostly the result of Obamacare related permium increases borne by the employer.

Gee, I thought inflation was quiet and the economy was booming according to what the ministry of lies published yesterday. Well, what we have here is we are burying actual cost inflation in other things then are tracked in consumer price increases.

[Wyatt's Torch]

4WMA lowest since 2006:

[Wyatt's Torch]

FactSet consensus estimate was 301,000 and it came in at 302,000 so yes. In line with expectations would be accurate.

[SeekAndFind]

I can honestly say that things are getting better on the jobs front, not as good as what it could potentially be mind you, but getting better nonetheless.

[Wyatt's Torch]

The phrase I use for the economy as a whole has been “sub-optimal”. Overall recovery. But a sub-optimal one.

[DJ MacWoW]

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[nhwingut]

Thanks Captain Obvious. My point was the media spin. Not what the (usually wrong) economists expected.

If under Bush, headline would clearly be ‘Initial Jobless Claims Rise by 23,000’.

[Wyatt's Torch]

You didn’t mention the “media spin” so I took your post to mean what you actually wrote.........

[Joe Boucher]

Why look at em, they lie every time to make em look better only to be revised down.

[nhwingut]

Right. I only laughed at the Yahoo headline. Clearly wasn’t mocking the leftwing media spin on news.

[prof.h.mandingo]

What's the GDP minus government spending? Federal, state, local. It seems to me this always skews GDP upward but in reality is a drain as who funds the gov’t spending? Us. China comes to mind as their government spending orgy makes their GDP much higher.
Higher taxes keep me from consuming which is the real economic driver.

[Wyatt's Torch]

Here is GDP by component:

Government spending is in orange and was negative impact on GDP in 11 of the 14 quarters listed in this Zero Hedge charrt

[Moonman62]

Summer of Recovery 6.0.