Initial Jobless Claims Plunge To Lowest Since March As California Cleans Up Fraud
Tyler Durden
Thu, 10/22/2020 – 08:35
After the previous week’s disappointing resurgence in initial jobless claims, this week saw the number of Americans filing for first time unemployment benefits plunged to 787k (870k exp) – the lowest since the pandemic lockdowns began…
Source: Bloomberg
Continuing claims also printed better than expected, tumbling below 9million for the first time since March…
Source: Bloomberg
Finally, bear in mind that California has completed its pause in processing of initial claims and has resumed reporting actual unemployment insurance claims data based on their weekly claims activity. This News Release reflects actual counts for California for the current week and revisions to the two prior weeks. So just this data with a pinch of salt.
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