Tag Archives: Unemployement

#Unexpectedly: Jobless Applications Soar

Gee, look at that! new jobless claims soar well above expectations, even WITH seasonal holiday hiring. Think this is bad? Just wait until we see January 2013’s numbers. Don’t say I didn’t tell you so.

Zero Hedge:

Get ready for the “it’s all Sandy’s fault” barrage, because the post-reelection status quo sure will desperately need it today. The latest initial claims data posted a multi-year high 104,548 surge in weekly NSA claims from 361,800 to 466,348, and even the Seasonally adjusted number soaring from 361K to 439K on expectations of a 375K print. In other words, a complete disaster for any economic data bulls. What is truly amusing is that the same Wall Street “experts” who set expectations were unable to foresee the Sandy effect that every “macrotourist” on Twitter apparently is so very aware of. Also, it is apparently also “Sandy’s fault” (now that the Bush excuse is back in retirement) that the prior week’s claims were revised from 355K to 361K. Basically, just as we said 3 weeks ago, ignore every negative data point: it is Sandy’s fault. However, for the snapback, when there actually is good news to be had, well, “four more years.” Finally, to all the Sandy apologists: is the logic here that: if Hurricane, then Fire everyone? Because that is what is implied. To summarize: a hurricane is good for GDP (lots of broken windows), but any actually negative news (surge in firings) is perfectly expected.

There’s more:

Just gets better: Hawaii, Oregon and Puerto Rico didn’t report claims data, causing the Labor Department to estimate their totals.

— zerohedge (@zerohedge) November 15, 2012

FTW:California and Virginia provided their own estimates.

— zerohedge (@zerohedge) November 15, 2012

Also, The Hopium is Depleted:

“The General Business Conditions expected six months forward dropped to its lowest level since March 2009.” – Zero Hedge Continue reading

Posted in Economy | Tagged

Hope and Change: 900 Applicants for 42 Positions

This is Hope and Change in NC — 42 openings at a Big Lots! Store in Fuquay-Varina, NC and over 900 applicants.

News and Observer via Cary news with emphasis added:

FUQUAY-VARINA – Jimmy Wilson hung a “store open” banner across the new Big Lots on Lakestone Commons Avenue, and word spread like wildfire that the town had gotten a new discount store.

Across town, Wilson’s wife was fielding calls from friends and neighbors asking if the rumors were true. By the time store manager Wilson opened the doors for the first time at 10 a.m. Oct. 9, customers were lined up at the door.

And Big Lots hasn’t even had its grand opening yet. It’s scheduled for Friday.

“Our customer count was four times higher than anticipated,” Wilson said. “I think everybody loves Big Lots. People have been waiting for this store to open. We have stores in Garner and Cary, but people are tired of having to drive out there.”

People were also looking for jobs. Wilson said he received about 900 applications for 42 positions.

He figured the large number of applicants was an indication of the economy’s slow recovery, considering all he did to advertise for the job openings was put up a table in front of the store a few months ago.

Applicants ranged from the unemployed to others with part-time retail jobs and some with no sales experience, he said. Continue reading

Posted in Economy | Tagged , , | 1 Comment