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The Number Of Americans On Jobless Benefits Rose Last Week, Despite Initial Claims Drop

Tyler Durden's Photo
by Tyler Durden
Thursday, Mar 25, 2021 - 08:39 AM

The number of Americans filing for first-time jobless benefits last week fell to 684k - the first drop below 700k since the start of the pandemic as Texas chaos filters out of the data.

Source: Bloomberg

However, some context shows we are still dramatically above pre-COVID norms...

Source: Bloomberg

Pandemic emergency claims rose to a new record, even as the 'normal' continuing claims dropped back below 4mm...

Source: Bloomberg

Finally, we note the total number of Americans claiming some form of unemployment benefit disappointingly rose last week, back above 19 million...

Source: Bloomberg

Get back to work Mr. Powell.

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