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

Tyler Durden's Photo
by Tyler Durden
Thursday, Jan 21, 2021 - 08:36 AM

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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