A lower "continuing US jobless claims" number today is welcome news. We may be seeing signs of employment stabilization. But let's take a step back and look at a slightly longer time period.
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| Continuing Jobless Claims SA (Bloomberg) |
We are now at the highs of the previous two recessions. And that doesn't include all the people who are "rolling off" - no longer qualify for benefits. When it comes to US employment picture, we've got a long way to go...
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