Initial Jobless Claims Jump Most Since March As Lockdowns Strike

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by Tyler Durden
Thursday, Dec 10, 2020 - 08:38 AM

As lockdowns began to spread virally across America, the number of Americans seeking unemployment benefits has surged higher.

Initial claims printed 853k (vs 725k exp), a 137k jump from last week and the biggest weekly increase in new claims since March...

Source: Bloomberg

This is the highest amount of new benefits seekers in three months.

Continuing Claims also rose on the week, from 5.527mm to 5.757mm - the first increase since August and biggest increase since May...

Source: Bloomberg

But, the total number of unemployment claimants has dropped below 20 million...

Source: Bloomberg

Sadly this data reflects the period BEFORE lockdowns really accelerated in California and other states.