Despite Initial Claims Drop, Almost 16 Million Americans Remain On Government Dole

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by Tyler Durden
Thursday, May 27, 2021 - 08:40 AM

Initial Jobless Claims tumbled (positively) to their lowest since the pandemic lockdowns began, adding just 406k Americans last week (well below the 425k expected). This is still double the pre-pandemic norms...

Source: Bloomberg

And despite the ongoing trend of improvement, there are still just under 16 million Americans on some form of government dole...

Source: Bloomberg

Bear in mind that while Congress extended Pandemic Emergency unemployment benefits through September 6th, at least 21 states cancelled the benefits...

Maybe it's time for this alligator's jaws to snap shut!

All eyes will be on the next jobs report for sure. It's on Friday, June 4.