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U.S. Jobless Claims | Bank REO Real Estate
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U.S. weekly jobless claims up 36,000 to 482,000

January 21, 2010 by · Leave a Comment
Filed under: Economic News 

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Interesting we are in full recovery but our weekly jobless claims are rising?  With these numbers and Obama making some tough statements against the large banks, the market are starting to wake up from their euphoric high and maybe question if we are really in a sustainable recovery or just a cash fueled bear market rally.   With the dollar rising and commodities rising, it doesn’t look good.  Looks like the safety trade is back in vogue and the means earnings reports need to hit expectations or we are going to see a major leg down in the markets….again.

The number of U.S. workers applying for new unemployment benefits unexpectedly rose last week and regional manufacturing activity slipped in January, hinting at some slowing in the pace of economic recovery.

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U.S. Initial Jobless Claims Rose 17,000 to 551,000 in September 2009

October 1, 2009 by · Leave a Comment
Filed under: Economic News 

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Can someone please explain to me what a “jobless recovery” is?  If these exist then Santa Claus and the Easter Bunny must be real.  Sure if you were fortunate to have income to apply in the stock market then you saw an “equity recovery” but using this language in the context of macr0-economics is misplaced in my opinion.

These “green shoots” we keep talking about must be weeds coming up.  At the time of this writing we are in the midst of a sellout on Wall Street, I agree with the consensus that is growing saying that we got ahead of ourselves with all the recovery and new bull market talk.  The real question is can earnings hold up and can the private sector start creating jobs?  Sure if we borrow money and use it for stimulus we will create jobs but what about when there is not government intervention, that is the real test to see if we are seeing an actual recovery.

Bloomberg, Washington D.C. – The number of Americans filing first-time claims for jobless benefits rose more than forecast last week, a sign companies are still cutting workers as the economy pulls out of the recession.

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U.S. Initial Jobless Claims Rose by 15,000 to 576,000

August 20, 2009 by · Leave a Comment
Filed under: Economic News 

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We are not out of the woods yet, we are still getting unexpected surprises during our so-called recovery.  Just as stated in this article, the job recovery has stalled and that is the underpinning of any real recovery.  Until we start creating jobs in productive parts of our economy, we are in for a longer and more protracted recession.  The signs are gather for another major stock market corrections in the coming months.  Valuations are still through the roof and and earnings aren’t going to be there to support these high expectations.

News (Bloomberg):

More Americans unexpectedly filed claims for jobless benefits last week, indicating companies are trying to cut costs further even as the economy stabilizes.

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U.S. jobless claims fall to 550,000, beats expectations but still high

August 6, 2009 by · Leave a Comment
Filed under: Economic News 

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On the radio this morning I kept hearing this statistic cited as a sign of a recovery for the U.S. economy.  I am sorry but just because we only had 550K jobs lost instead of 580K is no reason to break out the Dom Perignon and celebrate.  These numbers are still very bad and I expect earnings to fall in the 3rd and 4th quarter and that will be primarily driven by a reduced consumer demand that directly ties into unemployment.  Why do these “green shoots” keeping looking like weeds?

News (Reuters):

The number of laid-off U.S. workers submitting new claims for jobless benefits fell sharply last week, fanning hopes the fragile labor market was on the mend and that the broader economy was stabilizing.

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U.S. jobless claims jump unexpectedly to 667,000

February 26, 2009 by · Leave a Comment
Filed under: Economic News 

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The job losses are mounting.  On the bright side, with a robust retraining program in place, this could help us down the road once we reallocate those jobs into more sustainable parts of the economy.  What I don’t like to see is the loss of jobs in the productive parts of our economic base.  We need to produce goods in the U.S. for sale at home and abroad.  As national policy we should aim to have a balanced trade internationally and to avoid a few number of countries to gain excessive reserves of our currency that could pose a problem down the road if they had their own emergency that requires them to use those reserves.

News:

New jobless claims rose more than expected last week and the number of Americans continuing to receive unemployment benefits has topped 5.1 million, fresh evidence the recession is increasingly forcing employers to shed jobs.

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