Jobless Claims

By Peter Boockvar - September 24th, 2009, 9:12AM

Initial Jobless Claims totaled 530k, 20k less than expected and down from 551k last week which was revised up by 6k. It is now at the lowest level since early Jan not including the July distortions. Continuing Claims fell by 123k and was 45k below estimates BUT those that are receiving Emergency Unemployment Compensation rose by 82k to a new record high and Extended Benefits rose by 3k. This is evidence that many people that are falling out of the Continuing Claims category is not because they found a new job but because they’ve exhausted their initial 26 weeks of benefits. So the trend continues, a slowdown in the pace of firing but a reluctance on the part of businesses to hire.

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Category: MacroNotes.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

One Response to “Jobless Claims”

Market Talk » Blog Archive » Jobless Claims Unexpectedly Fall, But Dark Clouds Still Hover Says:
September 24th, 2009 at 11:32 am
[...] because they’re no longer qualified for their initial 26 weeks of benefits, Peter Boockvar writes at The Big Picture. “So the trend continues, a slowdown in the pace of firing but a [...]