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Below is a complimentary research note from our Financials analyst Josh Steiner. We are pleased to announce that we recently launched Financials Sector Pro, Josh's new research product. Click HERE to learn more. |
HEDGEYE FINANCIALS WEEKLY LABOR MARKET READING
Regular state claims fell -67K (-7%) w/w to 847K, while new PUA claims fell -20K (-5%) w/w to 426K.
Continuing state claims of 4.8 million fell -4% w/w as the downtrend continues to move at a tepid pace.
Meanwhile, Total Claimants, a figure that is lagged by two weeks, increased +2.3M (+14%) w/w to 18.3 million.
PEUC claims increased +837K (+28%) w/w to 3.9M.
Notwithstanding the sticky and dauntingly high level of unemployment claims, the projected benefits of refreshed stimulus and the new, greater prospects for additional stimulus following the forthcoming shake-up in Washington will more than likely prove successful in further suppressing the symptoms of widespread and increasingly permanent unemployment over the next few months.
