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MISS: Initial Jobless (Unexpectedly) JUMP TO 414K, Last Week Revised Higher
TBI ^ | 9-8-2011 | Joe Weisenthal

Posted on 09/08/2011 6:23:52 AM PDT by blam

MISS: Initial Jobless JUMP TO 414K, Last Week Revised Higher

Joe Weisenthal
Sep. 8, 2011, 8:32 AM

Update:

Initial jobless claims MISSED expectations, jumping 414K.

That's worse than the 405K that analysts had expected, and the upwardly revised 412K from last week.

Meanwhile, the trade deficit came in much narrower than expected at $44.8 billion.

Markets are drifting lower right now.

NASDAQ futures are off about 0.2% That's not too dramatic considering the huge gains yesterday.

The original post: The big "data" portion of the day is at 8:30, with both initial jobless claims and the trade deficit coming out.

On the initial claims front, the official expectation is for a print of 405K, down slightly from 409K last week. This is the one area of the labor data that's held up alright, and it is actually very important.

Then on the trade balance front -- crucial to GDP -- analysts expect a $51 billion gap in July, narrowing just slightly from $53.1 billion in the previous month.

We'll have them right here when they're announced.

Futures are a bit lower going into the data.

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: economy; jobs; recession; unemployment

1 posted on 09/08/2011 6:23:56 AM PDT by blam
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To: All

time for Obama to bust out some Milli Vanilli and “blame it on the rain”.


2 posted on 09/08/2011 6:25:43 AM PDT by newnhdad
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To: blam

Damn earf-quakes and hurricanes...


3 posted on 09/08/2011 6:27:36 AM PDT by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
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To: blam
Goldman: Now There's Sizable UPSIDE To Q3 GDP After That Strong Trade Report
4 posted on 09/08/2011 6:31:34 AM PDT by blam
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To: blam

A rise in jobless claims? Unexpected, no doubt. [/s]

How many of these unexpected surprises do we need to get before we start expecting them?


5 posted on 09/08/2011 6:32:01 AM PDT by rbg81
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To: newnhdad

Milli Vanilli didn’t use teleprompters.


6 posted on 09/08/2011 6:32:54 AM PDT by Justa
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To: blam

Even worse, job openings rise ... to the low point after the 2001 recession. What a mess!

http://confoundedinterest.wordpress.com


7 posted on 09/08/2011 6:33:05 AM PDT by whitedog57
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To: blam; Common Sense 101; newnhdad

If anyone comes across the historical data for “initial report” and “revised” PLEASE post it here so we can plot it. I suspect there is a positive bias in the last few years, always revising up.

But on the labor stats site, they seem to only keep the revised numbers.

So I guess you’d have to pull the data from past press releases.


8 posted on 09/08/2011 6:33:14 AM PDT by sam_paine (X .................................)
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To: blam

AVG alerted to a threat when I clicked that link.


9 posted on 09/08/2011 6:34:54 AM PDT by John W (Natural-born US citizen since 1955)
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To: blam

my sense is this would not be released on the day of Bam’s speech unless he WANTED it to be released in order to reinforce the crisis-mongering he is going to engage in tonight.


10 posted on 09/08/2011 6:39:29 AM PDT by Buckeye McFrog
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To: newnhdad
Time for Obama to bust out some Milli Vanilli and “blame it on the rain”.

Yep... and lip-synching, with Prime Minister Soros' words.

11 posted on 09/08/2011 6:41:46 AM PDT by ScottinVA (With "successes" like the Libya adventure, who needs failure?)
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To: Buckeye McFrog
Giant Sucking Sound Part 2? The NAFTA Of The Pacific Will Soon Allow Millions More American Jobs To Be Shipped Overseas
12 posted on 09/08/2011 6:45:05 AM PDT by blam
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To: blam

The numbers will be better next week .....

because they will represent a short work week.

Maybe, Obama will blame the increase in joblessness on
Irene and/or
the wild fires in Texas, and/or
the phase of the moon.


13 posted on 09/08/2011 6:45:14 AM PDT by TomGuy
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To: blam

It’s funny how GS always seems to tell the public one thing, and their private institutional clients another....


14 posted on 09/08/2011 6:45:38 AM PDT by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: blam
RE Trade Report. Sure enough, Americans are buying less stuff, so imports dropped. And it would seem that the economies of our trade partners, by starting to reverse Socialism, are seeing their economies and consumption grow (despite totally broke governments).

Real goods exports rose by 4.9% (month-over-month), reversing declines over the previous two months. In contrast, real goods imports fell by 0.2%, following a decline of 0.7% in June.

Maybe if Hussein wasn't such a Marxist we could follow the same path.

15 posted on 09/08/2011 6:47:29 AM PDT by ProtectOurFreedom
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To: blam

“Unexpected”!


16 posted on 09/08/2011 6:47:47 AM PDT by Cringing Negativism Network ("Cut the Crap and Balance!" -- Governor Sarah Palin , Friday August 12 2011, Iowa State Fair)
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To: andy58-in-nh
"It’s funny how GS always seems to tell the public one thing, and their private institutional clients another.... "

Even Goldman Sachs Secretly Believes That An Economic Collapse Is Coming

Even Goldman Sachs is doing it again. Goldman is telling the public that everything is going to be just fine, but meanwhile they are advising their top clients to bet on a huge financial collapse.

17 posted on 09/08/2011 6:52:34 AM PDT by blam
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To: blam

I’m beginning to understand that the secret to running a successful hedge fund is controlling both sides of the trade.


18 posted on 09/08/2011 6:58:31 AM PDT by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: Free Vulcan
U.S. trade gap shrinks to $44.8 billion in July
19 posted on 09/08/2011 6:58:51 AM PDT by blam
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To: blam

How many weeks in a row has the previous numbers been ‘revised higher’?


20 posted on 09/08/2011 7:10:52 AM PDT by FreedomProtector
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