The Number Of Americans On Jobless Benefits Rose Last Week, Despite Initial Claims Drop

The Number Of Americans On Jobless Benefits Rose Last Week, Despite Initial Claims Drop

The number of Americans filing for first-time jobless benefits last week fell to 684k – the first drop below 700k since the start of the pandemic as Texas chaos filters out of the data.

Source: Bloomberg

However, some context shows we are still dramatically above pre-COVID norms…

Source: Bloomberg

Pandemic emergency claims rose to a new record, even as the ‘normal’ continuing claims dropped back below 4mm…

Source: Bloomberg

Finally, we note the total number of Americans claiming some form of unemployment benefit disappointingly rose last week, back above 19 million

Source: Bloomberg

Get back to work Mr. Powell.

Tyler Durden
Thu, 03/25/2021 – 08:39

Share DeepPol