Pandemic Emergency Jobless Claims Soar To New Record High

Pandemic Emergency Jobless Claims Soar To New Record High

Tyler Durden

Thu, 11/05/2020 – 08:36

Initial Jobless Claims rose by 751k last week, very slightly lower than last week’s upwardly revised 758k rise, but still around four times the pre-COVID-lockdown norms…

Source: Bloomberg

Continuing Claims improved for the 8th week in a row to its lowest since March…

Source: Bloomberg

But, as continuing claims slide, Pandemic Emergency Claims continue to soar to a new record high…

Source: Bloomberg

There remains around 22 million people on government jobless benefits…

And what happens next with no fiscal stimulus expected anytime soon?

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Author: Tyler Durden

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