14
01/10
Weekly Unemployment Claims 1/14/2010: What they Don’t Want to Show You
by John Galt
January 14, 2010
That is the data from today’s report, the second largest Non-Seasonally Adjust number in 25 years, per Rick Santelli’s comments on CNBC this morning. When you look at the data above you also can take note that the Insured Unemployment (NSA) was up 503,924 through January 2, 2010 which is higher than last year’s figures in the teeth of the financial storm. The EUC probram (Emergency Unemployment Claims) dropped 141,279 but that is primarily due to people exhausting their last bit of benefits and what is astounding from that rather large number is that the current administration has failed to act to extend any benefits beyond this month thus opening Pandora’s box for a massive series of consumer loan defaults and more banking problems.
I reconstructed all of the weekly Unemployment Claims data (NSA) from my start date of this crisis, February 2007 and graphed it to give everyone some idea what the weekly chart would look like plus added the thin green line that is ascending as a rough average to indicate that the problem is still ascending, not improving and thus the myth of jobs creation and the end of the crisis is just that:
A myth.
I shall update that chart weekly and add a few more charts to this report plus have a full breakdown of the retail sales report and other economic data tomorrow and this weekend.
Papaswamp
15.01.10
02:36
Exactly what I have been jumping up and down about.
Orange County Observer
15.01.10
02:51
Some counties in California were showing seasonal adjusted U/E rates greater than 20% by the third quarter of 2009.
We have no doubt about the U/E rates in California.
The real question is whether or not the national economy and financial system will face the Grim Reaper or not.
So far, there seems to be a mysterious stay of execution for Uncle Sam.
As a citizen under United States law, one wonders whether the stay of execution on our zombie banks is actually good or not.
a deckhand
15.01.10
04:43
Just a Question, regarding research that I do not have time to do:
Would it be possible (or relevant) to chart the footnote (2) denominator? I’m thinking that this number may provide a visual representation of the falling traditional employment rates.
Many thanks for your time to analyse and post all that you do.
Bring it on!
15.01.10
05:11
Yeah the scam is continuing… all this money being pumped into the system and all the pumping propaganda…
But when it comes down, it will be october 2008 all over again.
Tweets that mention Weekly Unemployment Claims 1/14/2010: What they Don’t Want to Show You | Shenandoah -- Topsy.com
15.01.10
11:22
[...] This post was mentioned on Twitter by Infidel007 and Sarah VanTassel, johngaltfla.com. johngaltfla.com said: New Entry: Weekly Unemployment Claims 1/14/2010: What they Don't Want to Show You http://bit.ly/4ONTZz [...]
David
15.01.10
12:20
I think it would be interesting to chart the preliminary economic numbers over the past 12 months against the actual numbers in terms of unemployment, GDP, etc. to illustrate the lies coming from Washington in an shocking but undeniable manner.
The fed has been lying to the American public about our economy, the so-called recovery in order to keep them spending since 2/3 of our economy is consumer spending. While the fed has been pumping money into banks to buy their treasuries/debt, they’ve needed to lie to the people to keep them pumping on the consumer markets.
Expose the trends of their lies!
Bill
15.01.10
21:13
If the Fed instead of doling out billions to the banks and wall street, would of given each family earning under $250,000, a check for say $ 100,000, I believe that the problem would be a lot less than it is.
David
16.01.10
00:48
@Bill – giving people money doesn’t accomplish anything. Most people will just blow it. How about NOT giving money to anyone, which in turns requires the government to first not take it from anyone or borrow it. After all, where is all that money they’re gonna give each family going to come from in the first place??
Obamarket Special Update Part 3: The Great Myth of Recovery, The New Disaster Awaits | Shenandoah
18.01.10
04:52
[...] Why is this important? Some reality set in on the market this week when people took a peek at the non-seasonally adjusted first time unemployment filings which pretty much indicated that last week was no improvement over 2008 and when you review the [...]