Pandemic Emergency Jobless Claims Soar To New Record High

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by Tyler Durden
Thursday, Nov 05, 2020 - 08:36 AM

Initial Jobless Claims rose by 751k last week, very slightly lower than last week's upwardly revised 758k rise, but still around four times the pre-COVID-lockdown norms...

Source: Bloomberg

Continuing Claims improved for the 8th week in a row to its lowest since March...

Source: Bloomberg

But, as continuing claims slide, Pandemic Emergency Claims continue to soar to a new record high...

Source: Bloomberg

There remains around 22 million people on government jobless benefits...

And what happens next with no fiscal stimulus expected anytime soon?