Over 18 Million Americans Are Still On Government Jobless Benefits, Despite Broad 'Reopenings'

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by Tyler Durden
Thursday, Apr 08, 2021 - 08:38 AM

After briefly dipping below 700k two weeks ago, the number of Americans filing for first time jobless claims has spiked back to 744k. This is coming despite reopenings happening broadly across America...

Source: Bloomberg

California and New York were the biggest drivers of the deteriorating situation...

While continuing claims continued to slide (good news), pandemic emergency claims rose last week...

Source: Bloomberg

And over 18 million Americans remain on some form of government jobless benefit.

Source: Bloomberg

For all intent and purpose, the labor market situation in America has gone nowhere in 4 months.

We're gonna need another few trillion...