Friday, January 31, 2014

Jobless claims jump 'unexpectedly' for week ending 1/25/14, claims from two weeks ago revised up by 3000

1/30/14, "Jobless claims jump unexpectedly,", Steve Benen

"After several weeks of relative stability in initial unemployment claims, the latest figures from the Labor Department were unexpectedly discouraging.

"The number of people who applied for U.S. unemployment benefits rose by 19,000 to 348,000 in the seven days ended Jan. 25, marking the highest level in six weeks. Economists surveyed by MarketWatch had expected claims to climb to 330,000 on a seasonally adjusted basis.""... 


1/30/14, "U.S. jobless claims jump 19,000 to 348,000," MarketWatch, Bartash

"Applications for unemployment benefits highest in six weeks."

"Initial claims from two weeks ago were revised up to 329,000 from an original read of 326,000, based on more complete data." (last sentence in article)


1/30/14, "Initial Jobless Claims Miss; Back To Levels First Seen 6 Months Ago," Zero Hedge

"The trend that was so many momentum-chasing bulls friend for so long has ended. The steady downward drift in jobless claims- all noise, debt-ceiling, winter storm, and software glitches aside - has ended. Initial claims rose 19k this week, missed expectations by the most in 6 weeks, and jumped to the same levels seen 6 months ago. The Labor Department says "nothing unusual" about this week's data but noted one state 'estimated' claims last week. Total benefit rolls dropped by 16k this week (back under 3 million) as emergency claimants remains "0". 

For those of the "seasonals are to blame" persuasion... this is the worst start to the year since the financial crisis..." (charts at link)


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