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900,000 Americans Filed For First-Time Jobless Benefits Last Week

Courtesy of ZeroHedge View original post here.

Initial jobless claims were expected to remain depressingly high last week, after spiking the week before, and they did (though slightly better than expected).

900,000 Americans filed for first-time unemployment benefits last week (less than the 935k expected and slightly lower than the 926k revised level of the week before), but still up near 4 month highs…

Source: Bloomberg

The 'good' news is that the continuing pandemic claims has fallen notably

Source: Bloomberg

But while the overall number of Americans on unemployment benefits fell last week, it  remains above 15 million…

Source: Bloomberg

Sadly, however, the silver lining should have a huge asterisk against it as it was dominated by a massive drop in California claims – which fundamentally makes zero sense as the state's draconian lockdown policies only became more draconian during this period…


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