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US jobless claims rose to 235,000 last week, most since mid-January

Initial jobless claims unexpectedly edged higher last week in a potential sign the labor market may be moderating amid tighter financial conditions.

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https://finance.yahoo.com/news/jobless-claims-july-7-124345808.html

Who could have seen this coming?!

"Unexpectedly"

Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

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And the end is nowhere in sight because of the imbeciles we have leading us.

At least we have no more mean tweets.

It's here

Stagflation nightmare that was totally avoidable…..

Gonna be a really tough handful of years for a lot of Americans


This is all on the libs & the people that vote with them

Remember, CMs voted for him because Trump was mean.

Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

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It's those damn O&G companies and those mom and pop shops gouging us. And Putin. Don't forget the minority Republicans. Ahh, Roe V Wade instability.

Thursday. That's an issue too.


Soooo unexpected, all these things working against poor ol PeePaw. Who could have seen that coming?

Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

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But our Marxist leaders and media have half the electorate convinced that the way to prosperity is to hand out money and people sit on their ass.

Owlagdad said:

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Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

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But our Marxist leaders and media have half the electorate convinced that the way to prosperity is to hand out money and people sit on their ass.

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As a liberal I take offense. We think of new pronouns, entitlements, more ways to become outraged, dream up new genders….

We are busy.

Always "unexpected."

Either these people are absolute morons, or they are doing everything they can to make excuses for the bumbling idiot's administration.

Likely both.

CDUB98 said:

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Always "unexpected."

Either these people are absolute morons, or they are doing everything they can to make excuses for the bumbling idiot's administration.

Likely both.

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Yeah, they should forever drop that adverb. Its a running joke now.

Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

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Initial Jobless Claims Historical Chart | MacroTrends

I doubt what I linked will work, but we are not higher than average. From 2017-2019, we were around this level. We have been higher than current level from late 1960s to 2017. In other words, even though it has gone from 200k to 235k, we are still at multi decade lows and way under average.

Again, the people who predict these numbers are either the biggest idiots in the world or the biggest liars in the world (why not both?)!

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The past 1.5 years has been a nightmare! Market is down about 3% over that time

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Fact check...

The DJIA is almost exactly where it was 1.5 years ago.

The S&P opened at 3892 on February 7th, 2021 and will open at 3882 today.

Marcus Brutus said:

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Quote:

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US jobless claims rose to 235,000 last week, most since mid-January

Initial jobless claims unexpectedly edged higher last week in a potential sign the labor market may be moderating amid tighter financial conditions.

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https://finance.yahoo.com/news/jobless-claims-july-7-124345808.html

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actually some of the metrics today are the worst since last December.

continuing jobless claims moving up now as well.

2 and 10 year bond yields inverted for the third time yesterday and have remained inverted for more than 24 hours. nearly every time that happens there is a recession.

but Goldman reporting today there is only a 35% chance of recession in the USA!!

Harkrider 93 said:

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Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

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Initial Jobless Claims Historical Chart | MacroTrends

I doubt what I linked will work, but we are not higher than average. From 2017-2019, we were around this level. We have been higher than current level from late 1960s to 2017. In other words, even though it has gone from 200k to 235k, we are still at multi decade lows and way under average.

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Can't build back better (the WEF way) unless you burn it to the ground first.

Harkrider 93 said:

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Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

---

Initial Jobless Claims Historical Chart | MacroTrends

I doubt what I linked will work, but we are not higher than average. From 2017-2019, we were around this level. We have been higher than current level from late 1960s to 2017. In other words, even though it has gone from 200k to 235k, we are still at multi decade lows and way under average.

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I quickly looked at 2018 and 2019, which I consider the norm under Trump pre-covid, giving time to get his policies in place. Based on that average, its about a 5% increase; I was wrong on increase originally. We were above 230k only twice during that time.

Comparing Biden to other presidents - "multi decade lows" - doesn't make sense.

CDUB98 said:

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Harkrider 93 said:

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Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

---

Initial Jobless Claims Historical Chart | MacroTrends

I doubt what I linked will work, but we are not higher than average. From 2017-2019, we were around this level. We have been higher than current level from late 1960s to 2017. In other words, even though it has gone from 200k to 235k, we are still at multi decade lows and way under average.

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current level is around 235k - we have been higher than 230k (300k+) from 1960-2017

the all time lows are around 180-230k (we are still in the lows) these lows were in 1960s, 2017-2019, and now.

not sure what the average is, but probably 300k+

can't remember the recession # but that is probably 350-400k

Clarence Thhhhoooommmaaaasssssss!!!!1

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But our Marxist leaders and media have half the electorate convinced that the way to prosperity is to hand out money and people sit on their ass.

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It is actually amazing how many people in this country do not have any clue on how an economy works much less how to grow it. Even many people with college degrees are completely clueless about economics. Our education system has completely failed.

Harkrider 93 said:

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Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

---

Initial Jobless Claims Historical Chart | MacroTrends

I doubt what I linked will work, but we are not higher than average. From 2017-2019, we were around this level. We have been higher than current level from late 1960s to 2017. In other words, even though it has gone from 200k to 235k, we are still at multi decade lows and way under average.

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Don't bring facts like that around here

LFPR is still well below what it was pre-Covid. By now it should've bounced back by now except for the fact this administration continues to make idiotic policies that hurt Americans in general while enriching the already wealthy elites.

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current level is around 235k - we have been higher than 230k (300k+) from 1960-2017

the all time lows are around 180-230k (we are still in the lows) these lows were in 1960s, 2017-2019, and now.

not sure what the average is, but probably 300k+

can't remember the recession # but that is probably 350-400k

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History is nice and can be useful for comparison. I think that the point of this thread is that jobless claims went up unexpectedly and well above the predicted/expected level.

We are coming out of a Lockdown and hiring should be brisk and unemployment claims should be almost nil. Many economist believe that we are slipping into recession and one of the first signs is an increase in unemployment. So any uptick should receive attention.

Mort Rainey said:

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Harkrider 93 said:

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Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

---

Initial Jobless Claims Historical Chart | MacroTrends

I doubt what I linked will work, but we are not higher than average. From 2017-2019, we were around this level. We have been higher than current level from late 1960s to 2017. In other words, even though it has gone from 200k to 235k, we are still at multi decade lows and way under average.

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Don't bring facts like that around here

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wgas what happened in the 60s?! Comparing today to the 60s as far as labor participation rate is illogical! I don't care what the average is using 60 years worth of data. I care what it is recently; compared to the previous claims under the current prez and the recent president. We are in a recession. That means jobless claims will go up, and they are.

Marcus Brutus said:

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Harkrider 93 said:

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Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

---

Initial Jobless Claims Historical Chart | MacroTrends

I doubt what I linked will work, but we are not higher than average. From 2017-2019, we were around this level. We have been higher than current level from late 1960s to 2017. In other words, even though it has gone from 200k to 235k, we are still at multi decade lows and way under average.

---

I quickly looked at 2018 and 2019, which I consider the norm under Trump pre-covid, giving time to get his policies in place. Based on that average, its about a 5% increase; I was wrong on increase originally. We were above 230k only twice during that time.

Comparing Biden to other presidents - "multi decade lows" - doesn't make sense.

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I figured you were looking at recent #s vs Trump.

I am not trying to take up for Biden. I am just saying that the higher unemployment claims isn't bad when compared to history. We are trending up, but that doesn't mean we are doomed, but it also doesn't mean it won't get worse (it will).

The next thing that will come out is the "massive" layoffs. However, look at the current level of layoffs and compare it to history. Currently, we are near all time lows. Headed in the wrong direction and going to get worse, but it isn't bad.

FTAG 2000 said:

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Can't build back better (the WEF way) unless you burn it to the ground first.

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hey now i have been told by klaus schwab himself we will own nothing and like it.

PaulC_80 said:

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Quote:

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current level is around 235k - we have been higher than 230k (300k+) from 1960-2017

the all time lows are around 180-230k (we are still in the lows) these lows were in 1960s, 2017-2019, and now.

not sure what the average is, but probably 300k+

can't remember the recession # but that is probably 350-400k

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History is nice and can be useful for comparison. I think that the point of this thread is that jobless claims went up unexpectedly and well above the predicted/expected level.

We are coming out of a Lockdown and hiring should be brisk and unemployment claims should be almost nil. Many economist believe that we are slipping into recession and one of the first signs is an increase in unemployment. So any uptick should receive attention.

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It should receive attention, but not alarming attention. We never have nil unemployment claims. You use history to prove that fact. 177k (pretty sure) is the lowest ever, and that wasn't under Trump. Sadly, as great as he was, he had 200-240k initial unemployment claims.

Also, we have always had layoffs. A different subject but something else that is related to all of this. To expect nil is crazy.

Biden sucks.

Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

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"market is down about 3% over that time"

think you are missing a 0 there brother Ag!

Marcus Brutus said:

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Looking back at the numbers pre covid, that's about 10% higher than the average. Definitely a slow down.

The past 1.5 years has been a nightmare! Market is down about 3% over that time, inflation at 15%, gas prices at record highs, national debt to gdp ratio is at 130% and now a recession.

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Inflation at 45 %. … FIFY