Jobless claims suddenly jumped to a two-year high

[Mainecat]

Jobless claims suddenly jumped to a two-year high

https://www.cnn.com/2019/12/12/economy/unemployment-benefits-jobless-claims/index.html 

New York (CNN Business)The number of Americans filing for their first week of unemployment benefits suddenly jumped last week to the highest level in more than two years. 

The number of initial claims rose to 252,000 in the week ending December 7, an increase of 49,000 from the number of claims filed the week before, the Labor Department said Thursday. 

That's higher than the 213,000 claims economists had expected and marks the highest level since the week ending September 30, 2017. 

Liz Ann Sonders, Charles Schwab Chief Investment Strategist, called it "a somewhat-uncomfortable pop up" in a tweet, but said it was "too soon to declare it an uptrend." 

Even though the pop in claims was notable, just one data point doesn't make a trend. Last week's data could be an outlier due to seasonal noise, given the timing around the Thanksgiving holiday on November 28.

[racer254]

You needed record employment to get a record at unemployment compensation claims.  The timing is due to the fact that many people are laid off for the season.  But I would not expect you to figure that out.  So many people are fooled all the time.

[1jkw]

3 hours ago, racer254 said:

You needed record employment to get a record at unemployment compensation claims.  The timing is due to the fact that many people are laid off for the season.  But I would not expect you to figure that out.  So many people are fooled all the time.

Again with your bullshit, according to the BLS Nov. and Dec. have historically lower UE numbers.

[racer254]

16 minutes ago, 1jkw said:

Again with your bullshit, according to the BLS Nov. and Dec. have historically lower UE numbers.

Look at the article, it even states exactly what I said...TIMING.  My god you people get guthooked at anything anti trump.

Even though the pop in claims was notable, just one data point doesn't make a trend. Last week's data could be an outlier due to seasonal noise, given the timing around the Thanksgiving holiday on November 28.

Edited December 12, 2019 by racer254

[DriftBusta]

28 minutes ago, 1jkw said:

Again with your bullshit, according to the BLS Nov. and Dec. have historically lower UE numbers.

Oh ok.  I guess the economy is in the toilet then.  Another record day on the Dow, smashing previous record by over 100 pats. 

[ArcticCrusher]

23 minutes ago, DriftBusta said:

Oh ok.  I guess the economy is in the toilet then.  Another record day on the Dow, smashing previous record by over 100 pats. 

Another sleeper event.  

When there is this much #winning.

[1jkw]

25 minutes ago, DriftBusta said:

Oh ok.  I guess the economy is in the toilet then.  Another record day on the Dow, smashing previous record by over 100 pats. 

No not at all. Nice deflection though. Care to dispute that UE has historically been lower during Nov. and Dec. because that is all I stated but again anything that you think remotely goes against Trump gets your TDS to flare up.

[racer254]

1 minute ago, 1jkw said:

No not at all. Nice deflection though. Care to dispute that UE has historically been lower during Nov. and Dec. because that is all I stated but again anything that you think remotely goes against Trump gets your TDS to flare up.

Just like I said, you have to start with record employment to get a record at unemployment compensation claims and it was about TIMING...then you called bullshit on what I said.  FFS, know what you are talking about before spouting off.

[1jkw]

46 minutes ago, racer254 said:

Look at the article, it even states exactly what I said...TIMING.  My god you people get guthooked at anything anti trump.

Even though the pop in claims was notable, just one data point doesn't make a trend. Last week's data could be an outlier due to seasonal noise, given the timing around the Thanksgiving holiday on November 28.

Yes the article states " Could Be" but statistically Nov. and Dec. UE goes down. What you stated was that people were getting laid off for the season, and surely some have but that doesn't change the fact that during Nov. and Dec. UE rates go down.

[1jkw]

Just now, racer254 said:

Just like I said, you have to start with record employment to get a record at unemployment compensation claims and it was about TIMING...then you called bullshit on what I said.  FFS, know what you are talking about before spouting off.

You didn't say that, you said it was because of seasonal layoffs. Now I proved that UE rates normally go down during those months you want to change what you said.  And the article stated "Could Be".

[jtssrx]

4 hours ago, Mainecat said:

Jobless claims suddenly jumped to a two-year high

https://www.cnn.com/2019/12/12/economy/unemployment-benefits-jobless-claims/index.html 

New York (CNN Business)The number of Americans filing for their first week of unemployment benefits suddenly jumped last week to the highest level in more than two years. 

The number of initial claims rose to 252,000 in the week ending December 7, an increase of 49,000 from the number of claims filed the week before, the Labor Department said Thursday. 

That's higher than the 213,000 claims economists had expected and marks the highest level since the week ending September 30, 2017. 

Liz Ann Sonders, Charles Schwab Chief Investment Strategist, called it "a somewhat-uncomfortable pop up" in a tweet, but said it was "too soon to declare it an uptrend." 

Even though the pop in claims was notable, just one data point doesn't make a trend. Last week's data could be an outlier due to seasonal noise, given the timing around the Thanksgiving holiday on November 28.

YA YA YA YA jump up and down and cheer. Guess what dipshit every person in the midwest that works a job that can't be done in the winter is laid off. Hense new jobless claim. You ans CNN should go Kill yourselves. You are a real piece of shit 

[racer254]

1 hour ago, 1jkw said:

You didn't say that, you said it was because of seasonal layoffs. Now I proved that UE rates normally go down during those months you want to change what you said.  And the article stated "Could Be".

MY GOD, not one of you fuckers can admit that you're wrong.  November and December always have more claims BECAUSE OF THE SEASONAL LAYOFFS.  FFS, you can't fall for these articles of deception constantly.  Fragile egos.

Edited December 12, 2019 by racer254

[DriftBusta]

1 hour ago, 1jkw said:

No not at all. Nice deflection though. Care to dispute that UE has historically been lower during Nov. and Dec. because that is all I stated but again anything that you think remotely goes against Trump gets your TDS to flare up.

No, I don’t care to dispute anything.  Because I’m more concerned with how the overall economy is performing, which is pretty damn good right now.  But you wanna be mad and split hairs over some season UE, be my guest.  Your type is the new deplorable in my world.  Too busy trying to knock the guy down, and not see what he’s confronting....because he’s blunt, not presidential and doesn’t give a shit.  I don’t either.   

[Cold War]

Again.  60- 80 k A year  jobs all across the country. Employers begging for workers.......   WHO WANT TO WORK!!!!!!!!!  
 

[1jkw]

10 minutes ago, DriftBusta said:

No, I don’t care to dispute anything.  Because I’m more concerned with how the overall economy is performing, which is pretty damn good right now.  But you wanna be mad and split hairs over some season UE, be my guest.  Your type is the new deplorable in my world.  Too busy trying to knock the guy down, and not see what he’s confronting....because he’s blunt, not presidential and doesn’t give a shit.  I don’t either.   

Good don't dispute facts with bullshit like racer was.  I'm not mad in the least, just pointing out the facts that the rise in UE isn't normal during these months.  Ironic that he has raised the debt faster than Obama and not a single peep, 22 trillion in Feb, 23 trillion by Dec. deficit way up too again not a peep, sending more Troops to the ME, not a peep.

 

[racer254]

3 minutes ago, 1jkw said:

Good don't dispute facts with bullshit like racer was.  I'm not mad in the least, just pointing out the facts that the rise in UE isn't normal during these months.  Ironic that he has raised the debt faster than Obama and not a single peep, 22 trillion in Feb, 23 trillion by Dec. deficit way up too again not a peep, sending more Troops to the ME, not a peep.

 

OMG, what do you think happens in Nov and Dec. 

[1jkw]

22 minutes ago, racer254 said:

MY GOD, not one of you fuckers can admit that you're wrong.  November and December always have more claims BECAUSE OF THE SEASONAL LAYOFFS.  FFS, you can't fall for these articles of deception constantly.  Fragile egos.

Not according to the BLS. Think really hard about how many companies hire workers at this same time to cover the Christmas rush. 

There are more seasonal hires than layoffs, practically every retailer and shipper hires workers during this time in all 50 states, and not every state needs to shut down due to winter weather.

[1jkw]

2 minutes ago, racer254 said:

OMG, what do you think happens in Nov and Dec. 

According to the BLS yes, UE goes down.  Look it up yourself, I did.

[steep and deep]

I think your all missing the boat. The article is about claims for unemployment not numbers of unemployed. More people filed claims due to seasonal(contractors, lawn care etc) shutting down for weather issues. . More people will also be hired due to service sector hiring for the holidays. Number of unemployed will still most likely stay the same or drop as is the normal. 

[racer254]

4 hours ago, 1jkw said:

According to the BLS yes, UE goes down.  Look it up yourself, I did.

Yes, You are correct UE in Nov and Dec generally goes down.  If you look at BLS it shows the same trend, but hasn't shown dec yet.  Is this UE? It says "The number of Americans filing for their first week of unemployment benefits suddenly jumped last week to the highest level in more than two years"   Sounds to me like we have record employment and this is nothing more than a biproduct of that because of seasonal layoffs.

[DriftBusta]

4 hours ago, 1jkw said:

Good don't dispute facts with bullshit like racer was.  I'm not mad in the least, just pointing out the facts that the rise in UE isn't normal during these months.  Ironic that he has raised the debt faster than Obama and not a single peep, 22 trillion in Feb, 23 trillion by Dec. deficit way up too again not a peep, sending more Troops to the ME, not a peep.

 

Huh.  Its so significant, it must explain why the DJIA had another record day in the market.  

[SVT MXZ XRS]

11 hours ago, racer254 said:

You needed record employment to get a record at unemployment compensation claims.  The timing is due to the fact that many people are laid off for the season.  But I would not expect you to figure that out.  So many people are fooled all the time.

For sure seasonal layoffs. MaineCunt and Co. are just to dumb to figure that out  

[racer254]

1 minute ago, SVT MXZ XRS said:

For sure seasonal layoffs. MaineCunt and Co. are just to dumb to figure that out  

I don't put 1kjw in that group yet.  I believe he understands exactly what we are getting at.

[1jkw]

9 hours ago, DriftBusta said:

Huh.  Its so significant, it must explain why the DJIA had another record day in the market.  

Again I only corrected a false claim made by racer, backed up by the BLS numbers. 

[1jkw]

9 hours ago, SVT MXZ XRS said:

For sure seasonal layoffs. MaineCunt and Co. are just to dumb to figure that out  

Do a little search and you will see that Nov. and Dec. UE usually goes down  according to the  BLS.      I state, that the reason is due to seasonal hires for the holiday season, again nearly every retailer and shipper adds jobs to meet demand. Not all 50 states lose jobs due to weather, but all 50 states add jobs to meet holiday demand.