U.S. weekly jobless claims total 419,000 vs. 350,000 estimate

Tiger Newspress2021-07-22

(July 22) U.S. initial jobless claims jump 51,000 to 419,000 in mid-July, vs. 350,000 estimate.

Total Number Of Americans On The Dole Plunges By 1.2 Million As States Cut Off Emergency Aid

This was not supposed to happen.

Initial jobless claims jumped significantly last week as419,000 Americans filed for jobless benefits for the first time(well above the prior week's 368k and expectations of a 350k print)...

Source: Bloomberg

Michigan and Texas saw the biggest jump in claims while New York and Oklahoma saw the best improvement...

'Traditional'continuing claims were basically unchanged over the prior week's revision.

There is some good news though,the total number of claims plunged by over 1.2 million last week(driven by a plunge in pandemic specific aid as states began shutting off the handouts)...

But, we note that overall, there remains over 12.5 million Americans on some form of government dole...

Source: Bloomberg

For context, that compares to the less than 2 million pre-pandemic-lockdowns.

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Comments

  • Jenn79
    2021-07-23
    Jenn79
    Latest
  • JeanAnto
    2021-07-22
    JeanAnto
    Good
  • Sharon87
    2021-07-22
    Sharon87
    How is government gonna fix this problem?
  • MCHAN
    2021-07-22
    MCHAN
    When market start to get better this f news ..     comes ?
    • StarGate
      It could takes time for market to recover from covid-19 situations [流泪]
  • MCHAN
    2021-07-22
    MCHAN
    Damn bad news 
  • MCHAN
    2021-07-22
    MCHAN
    Fucking bad news damn 
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