Wall Street Pulls Its Pud Over Headline Jobless Claims Data

Initial Claims As Percent of Eligible - Click to enlarge

Behind the initial claims headline number, the real story was a bit different (nothing new about that). Bloomberg was frothing at the mouth with this headline… … while amazingly failing to note that that was the year the economy began to collapse from the weight of the massive credit and housing bubbles that preceded. Today, in…

Initial Claims At Dangerous Extreme

Initial Claims As Percent of Eligible Persons - Click to enlarge

The Department of Labor (DOL) has revamped its reporting system for weekly claims. Perhaps my constant whining about the problem of reporting seasonally adjusted BS has reached their ears.  While they still relegate the actual, not seasonally adjusted data (NSA) to a second page of their weekly report, they are now directly reporting the numerical…

Initial Claims On Trend, But Way Behind Stock Prices

Stock Prices Look Extended Vs. Unemployment Claims - Click to enlarge

Today’s report on first time unemployment claims was a nothing-burger. It was a worse report than usual for this week of the year, but the year to year change was right in line. Whether this week’s poor showing versus the same week last year and the 10 year average is a canary in the coal…