Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Number Of Americans On Jobless Benefits Surges Back Above 20 Million

Courtesy of ZeroHedge View original post here.

After surging from early December to mid-January, the number of Americans filing for first time jobless benefits has slowed significantly as blue states have miraculously and coincidentally lifted the most draconian pandemic restrictions since President Biden's inauguration. However, while last week's claims improved (793k, worse than the 760k expected), it was from a notably revised higher level the previous week (from 779k to 812k)

Source: Bloomberg

Ohio saw a huge surge in jobless claims as Florida saw the biggest drop…

And while it is well below its peak levels in June, last week saw the total number of Americans of some form of jobless benefit surge back above 20 million…

Source: Bloomberg

As Pandemic Emergency Claims surged back near record highs…

Source: Bloomberg

Worse still, bear in mind that Fed Chair Powell warned yesterday that in 'real' terms, unemployment remains around 10% – as bad as at the peak of the financial crisis.

“Published unemployment rates during COVID have dramatically understated the deterioration in the labor market,” Powell said during prepared remarks at the Economic Club of New York.

So perhaps don't celebrate the improving claims data just yet.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!