Takeaway: Initial Claims came in at 406K, falling -9% w/w and marking another pandemic period low.

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Steady Grind Lower For Weekly U.I. Claims   - 06.02.2020 need jobs in Oz cartoon  3

HEDGEYE FINANCIALS WEEKLY LABOR MARKET READING

As the domestic economy reopens and labor markets progress towards normalization, with pandemic-related uncertainty fading, we continue to see a strengthening in the downtrend in jobless claims data - marked by another pandemic low in the initial weekly claims figure. 

Moreover, in response to a weak April jobs gain and worries about government transfer payments discouraging a return to work, at least 21 states have announced that they will be cutting off access to enhanced unemployment benefits beginning in June.

Naturally, we expect this move to trigger a further downward acceleration in claims data over the coming months. 

Steady Grind Lower For Weekly U.I. Claims   - Summary 

Steady Grind Lower For Weekly U.I. Claims   - Initial 

Steady Grind Lower For Weekly U.I. Claims   - PUA

Steady Grind Lower For Weekly U.I. Claims   - Continuing

Steady Grind Lower For Weekly U.I. Claims   - Total

Steady Grind Lower For Weekly U.I. Claims   - PEUC

Steady Grind Lower For Weekly U.I. Claims   - 152627

Read more Financials Sector Pro: Downtrend Growing More Steady For Weekly U.I. Claims