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Initial Claims Disappoint But Total Number Of Americans On The Dole Drops Below 14 Million

Courtesy of ZeroHedge View original post here.

Initial jobless claims fell last week from 373k to 260k (a new post lockdown low), but that was worse than the 350k expected

Source: Bloomberg

New York, Texas, and Pennsylvania saw the biggest increases in jobless claims while Georgia saw the biggest drop…

The number of Americans on Pandemic-specific jobless benefits tumbled by 336,000 last week as states begin shutting down this extraordinary measure…

The total number of Americans on some form of government dole fell below 14 million for the first time since the lockdowns began…

Source: Bloomberg

Finally, judging by the most recent ISM Survey data (focusing on the employment subindices), claims could be about to take a turn for the worse once again…

Source: Bloomberg

Despite the fact that there are still over 9 million job openings…

Source: Bloomberg

How ill Jay Powell explain away this chart today when he talks to The Senate.


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