Initial Jobless claims back up (sort of)

[pinqy]

So on the one hand, initial claims for the week ending July 19 were revised down from 284,000 to 279,000.

On the other hand, initial claims for the week ending July 26 were at 302,000, an increase of 23,000 from the previous week.

In short, it went from 303,000 initial claims to 279,000 initial claims to 302,000 initial claims.

http://www.dol.gov/opa/media/press/eta/ETA20141392.pdf

Note that these are INITIAL claims for each week.

Note that these numbers have absolutely nothing to do with the Unemployment rate, which comes out tomorrow for July.

 

[Mad Scientist]

http://www.zerohedge.com/news/2014-07-31/employment-costs-surge-most-6-years-initial-claims-miss

However, what is more worrisome for bullish equity market investors is the surge in employment costs. The Employment Cost Index jumped 0.7% (beating expectations of a 0.5% rise) - its biggest jump since Sept 2008. This is the biggest variance from expectations in 8 years and suggests Janet Yellen's 'slack' just got a lot tighter.

 

[SteadyMercury]

Hiring in Well-Paid Positions Picking Up - WSJ

Construction payrolls have grown, on average, by 23,500 a month in 2014. That's a jump from the average monthly gain of just 8,600 the prior three years. Manufacturers have added an average of 15,000 jobs each month this year, compared with just below 10,000 the prior three years. And after mostly shedding jobs in recent years, the public sector has added nearly 10,000 workers each month in 2014.

Be nice to see that reflected in wage statistics.

 

[EdwardBaiamonte]

Hiring in Well-Paid Positions Picking Up - WSJ

Construction payrolls have grown, on average, by 23,500 a month in 2014. That's a jump from the average monthly gain of just 8,600 the prior three years. Manufacturers have added an average of 15,000 jobs each month this year, compared with just below 10,000 the prior three years. And after mostly shedding jobs in recent years, the public sector has added nearly 10,000 workers each month in 2014.

Be nice to see that reflected in wage statistics.

yes its a hollow recovery with U6 unemployment at 12%(50% higher than before recession) and average wages falling rather than rising. But, what would you expect given the highest liberal corporate taxes in the world, liberal unions, and 20 million ultra low wage liberal illegals in the country!!