Pandemic Emergency Jobless Claims Soar To New Record High

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?