Thursday, September 25, 2008 9:07:48 AM
Weekly Unemployment Claims Jump to 493,000
by CalculatedRisk
The DOL reports on weekly unemployment insurance claims:
In the week ending Sept. 20, the advance figure for seasonally adjusted initial claims was 493,000, an increase of 32,000 from the previous week's revised figure of 461,000. It is estimated that the effects of Hurricane Gustav in Louisiana and the effects of Hurricane Ike in Texas added approximately 50,000 claims to the total. The 4-week moving average was 462,500, an increase of 16,000 from the previous week's revised average of 446,500.
I added the SPX chart to show why we might not be at the bottom yet. Mid 2009 I believe. Looks at when the market bottoms and when Unemployment claims does. Also note that when Unemployment claims starts to rise the markets start to top
This graph shows weekly claims. The four moving average is at 462,500.
Some of the jump in unemployment claims is a result of the hurricanes - and should be temporary - but away from the financial crisis this shows there are significant weaknesses in the labor market and real economy.
by CalculatedRisk
The DOL reports on weekly unemployment insurance claims:
In the week ending Sept. 20, the advance figure for seasonally adjusted initial claims was 493,000, an increase of 32,000 from the previous week's revised figure of 461,000. It is estimated that the effects of Hurricane Gustav in Louisiana and the effects of Hurricane Ike in Texas added approximately 50,000 claims to the total. The 4-week moving average was 462,500, an increase of 16,000 from the previous week's revised average of 446,500.
I added the SPX chart to show why we might not be at the bottom yet. Mid 2009 I believe. Looks at when the market bottoms and when Unemployment claims does. Also note that when Unemployment claims starts to rise the markets start to top
This graph shows weekly claims. The four moving average is at 462,500.
Some of the jump in unemployment claims is a result of the hurricanes - and should be temporary - but away from the financial crisis this shows there are significant weaknesses in the labor market and real economy.
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