Posted on 09/08/2011 6:23:52 AM PDT by blam
MISS: Initial Jobless JUMP TO 414K, Last Week Revised Higher
Joe Weisenthal
Sep. 8, 2011, 8:32 AM
Update:
Initial jobless claims MISSED expectations, jumping 414K.
That's worse than the 405K that analysts had expected, and the upwardly revised 412K from last week.
Meanwhile, the trade deficit came in much narrower than expected at $44.8 billion.
Markets are drifting lower right now.
NASDAQ futures are off about 0.2% That's not too dramatic considering the huge gains yesterday.
The original post: The big "data" portion of the day is at 8:30, with both initial jobless claims and the trade deficit coming out.
On the initial claims front, the official expectation is for a print of 405K, down slightly from 409K last week. This is the one area of the labor data that's held up alright, and it is actually very important.
Then on the trade balance front -- crucial to GDP -- analysts expect a $51 billion gap in July, narrowing just slightly from $53.1 billion in the previous month.
We'll have them right here when they're announced.
Futures are a bit lower going into the data.
(Excerpt) Read more at businessinsider.com ...
time for Obama to bust out some Milli Vanilli and “blame it on the rain”.
Damn earf-quakes and hurricanes...
A rise in jobless claims? Unexpected, no doubt. [/s]
How many of these unexpected surprises do we need to get before we start expecting them?
Milli Vanilli didn’t use teleprompters.
Even worse, job openings rise ... to the low point after the 2001 recession. What a mess!
http://confoundedinterest.wordpress.com
If anyone comes across the historical data for “initial report” and “revised” PLEASE post it here so we can plot it. I suspect there is a positive bias in the last few years, always revising up.
But on the labor stats site, they seem to only keep the revised numbers.
So I guess you’d have to pull the data from past press releases.
AVG alerted to a threat when I clicked that link.
my sense is this would not be released on the day of Bam’s speech unless he WANTED it to be released in order to reinforce the crisis-mongering he is going to engage in tonight.
Yep... and lip-synching, with Prime Minister Soros' words.
The numbers will be better next week .....
because they will represent a short work week.
Maybe, Obama will blame the increase in joblessness on
Irene and/or
the wild fires in Texas, and/or
the phase of the moon.
It’s funny how GS always seems to tell the public one thing, and their private institutional clients another....
Real goods exports rose by 4.9% (month-over-month), reversing declines over the previous two months. In contrast, real goods imports fell by 0.2%, following a decline of 0.7% in June.
Maybe if Hussein wasn't such a Marxist we could follow the same path.
“Unexpected”!
Even Goldman Sachs Secretly Believes That An Economic Collapse Is Coming
Even Goldman Sachs is doing it again. Goldman is telling the public that everything is going to be just fine, but meanwhile they are advising their top clients to bet on a huge financial collapse.
I’m beginning to understand that the secret to running a successful hedge fund is controlling both sides of the trade.
How many weeks in a row has the previous numbers been ‘revised higher’?
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