840,000 Americans Filed For First-Time Unemployment Benefits Last Week

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by Tyler Durden
Thursday, Oct 08, 2020 - 08:34 AM

840,000 Americans filed for first time unemployment benefits last week - worse than the 820k expectation, but slightly better than the upwardly revised 849k the priod week.

Source: Bloomberg

This is still over four times higher than the pre-COVID levels.

We also note that while aggregate jobless claims fell, Pandemic Emergency Claims (blue region) increased last week...

Source: Bloomberg

Florida, Illinois, and Virginia saw the biggest jump in jobless claims. New Jersey, Michigan, and Pennsylvania saw the biggest improvement.

Continuing Claims dropped back below 11 million - the lowest (best level since March)...

Source: Bloomberg