Initial Jobless Claims Stagnate For 12th Straight Week, Over 12 Million American Remain On The DoleZeroHedge News

Initial Jobless Claims Stagnate For 12th Straight Week, Over 12 Million American Remain On The Dole

Having stagnated around the 400k level for 11 weeks – still around twice the pre-COVID-lockdown norms – analysts expected a modest drop (improvement) in initial jobless claims last week, and were right as claims dropped back near a post-COVID-lockdown low of 375k…

Source: Bloomberg

The stated with the biggest increases in initial claims were California (+6,347), Virginia (+4,793), and Maryland (+2,395); and the states with the biggest drop were Michigan (-4,365), Florida (-3,337), and Georgia (-3,254)

Continuing claims dropped a to a post-COVID-lockdown low of 2.866mm…

Source: Bloomberg

Despite the “strong” payrolls print last week and screaming record highs in Job Openings, only just over 720k Americans dropped off of Pandemic emergency aid…

Leaving more than 12 million Americans on some form of government dole…

Source: Bloomberg

So over 10mm job openings and over 12mm people on the dole. What’s wrong with this picture?

Tyler Durden
Thu, 08/12/2021 – 08:45Read More

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