Initial Jobless Claims Jump Most Since March As Lockdowns Strike
Tyler Durden
Thu, 12/10/2020 – 08:38
As lockdowns began to spread virally across America, the number of Americans seeking unemployment benefits has surged higher.
Initial claims printed 853k (vs 725k exp), a 137k jump from last week and the biggest weekly increase in new claims since March…
Source: Bloomberg
This is the highest amount of new benefits seekers in three months.
Continuing Claims also rose on the week, from 5.527mm to 5.757mm – the first increase since August and biggest increase since May…
Source: Bloomberg
But, the total number of unemployment claimants has dropped below 20 million…
Source: Bloomberg
Sadly this data reflects the period BEFORE lockdowns really accelerated in California and other states.
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