U.S. jobless claims turn higher one week after touching 14-year low

Marketwatch ^ | 7/31/14 | Jeffrey Bartash

[SoFloFreeper]

One week after falling to a 14-year low, the number of people who applied for U.S. unemployment benefits rose sharply last week but remained near a postrecession bottom.

Initial jobless claims climbed by 23,000 to 302,000 in the seven days ended July 26, retracing the entire decline in prior week, according to Labor Department data . The level of claims was in line with Wall Street expectations.

[SoFloFreeper]

In other words, last week's big fat lie was an anomaly.

[FlingWingFlyer]

Under the Obama regime, bad is good so I guess this is good.

[Farmer Dean]

Last week’s lie can’t begin to match this week’s big lie,+4% in the second quarter.Does anyone believe THAT?

[Wyatt's Torch]

Well no... looking at the one week number is a bad plan because it's volatile. That's why the 4 week moving average shows a smoother picture.

The 4-week moving average is at it's lowest point since 2006:

[The Sons of Liberty]

Funny. I was reading that the government claims the GDP grew at a 4% annual rate during the second quarter and I didn’t believe a word of it. I wonder why?

[Wyatt's Torch]

No. Just as no one believed the -2.9% in 1Q...

Overall the GDP is growing 1.5-2.0% - just as it has over the last couple of years.

[Fresh Wind]

Well, this is unexpected.

[Farmer Dean]

Is inflation calculated into the GDP?

[logi_cal869]

What inflation?

/s

[Wyatt's Torch]

Yes. It’s called the “PCE deflator”. It’s the difference between real and nominal GDP.

[nhwingut]

[DJ MacWoW]

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[nhwingut]

And the labor force participation rate is at its lowest since the late 70s. So your chart is pretty much bogus.

[Wyatt's Torch]

Show the whole trend back to the 1950's to be more reflective of ongoing demographic changes. The participation rate peaked in Jan/Feb/Mar 2000 and has been falling ever since.

Tell you what, I'll do it for you:

If you would like to discuss why it has been falling for 15 years I'd be happy to do that.

[Wyatt's Torch]

And yours was incomplete... I posted one back to the 50’s to show the whole story which yours does not do. I’d be happy to post initial claims back to the 1960’s but it won;t change the fact that the claims numbers are very low especially considering record private employment levels.

[goodnesswins]

Do you have a chart to overlay that which shows govt employment?

[SoFloFreeper]

Call me skeptical....I trust next to NOTHING put out by Team Obama.

[Georgia Girl 2]

Every statistic they quote is total BS. If you don’t count partime and all the millions who have fallen off the unemployment rolls its about 18% unemployment.

Just like the lie that the GDP grew 4% in the second quarter. Its all a lie. In a couple of weeks the revised GDP numbers will be quietly released and the growth will be zero. Who even listens to it anymore?

[Wyatt's Torch]

Here is government employment by type:

[Wyatt's Torch]

I understand the skepticism. Unfortunately there are no other sources of data.