Jobless Claims: Back In Recession Territory



In the week ending Aug. 14, the advance figure for seasonally adjusted initial claims was 500,000, an increase of 12,000 from the previous week’s revised figure of 488,000. The 4-week moving average was 482,500, an increase of 8,000 from the previous week’s revised average of 474,500.

Uh, that’s back solidly into “recession” territory, and belies what I’ve been saying for the last year: we aren’t going to have a “double dip” as we never left the recession in the first place.  This is a Depression led by excessive credit – and we can’t fix it without fixing the underlying cause, which we refuse to address.

We’re not getting anywhere good when you look at the “Total” compensated picture either (EUC) – look here:

Yeah.  Now show me where there has been any improvement in these numbers.

You can’t, and the market lost the entirety of it’s hype-driven ramp job that CNBS and the other mouth-breathers in the mainstream media had done their best to promote this morning, as soon as the numbers were released.

The math – and truth – always eventually wins.

The Market-Ticker