Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

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3:59 PM EST

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To: furrfu who wrote (44837)	7/12/2001 12:40:14 PM
From: LTK007	Read Replies (1) of 56535

<Eventually, people are going to actually read that employment report. Doug > what read and spoil the party??? if they did read this is what they would read---briefing.coms commentary" Highlights Initail claims shot 42K higher to 445K -- new nine year high. Key Factors Annual auto retooling suspected to be the culprit. Temporarily shut auto plants bring volatility in July. 4-week average of 411K marks 11th week above psychologically sensitive 400K level. Number of people collecting unemployment benefits rose to 3.046 mln in the week ended June 30, the highest since 1992. Attention focusing on acceleration in continued claims as first timers return to the benefits line. Big Picture The acceleration in the unemployment claims uptrend leaves four-week averages near nine year highs. Initial claims are flattening as continued claims accelerate. Daily reports of large corporate layoffs, rising unemployment, falling help wanted advertising the rapid rise in these weekly benefits claims all tell the same story as the bottom of the economic downturn still hasn't been seen and labor markets significantly lag economic growth. The labor market has turned from an inflation concern in late 2000 to a severe growth concern currently as it translates in to payroll employment declines. Category Jul 7 Jun 30 Jun 23 Jun 16 Jun 9 Initial Claims 445K 403 391 404 435 4-Wk Moving Avg 411 408 417 424 426 State Benefits -- 3046 3010 2975 2977 4-Wk Moving Avg -- 3002 2969 2960 2913 Insured Unemp Rate -- 2.4% 2.4% 2.3% 2.3%"

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