Takeaway: Initial state claims remain elevated amid a slow recovery in continuing claims as total claims rise on refreshed stimulus.

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Total Claims Across All Programs Rise On Refreshed Stimulus - 03.23.2020 call me in the morning cartoon  1

HEDGEYE FINANCIALS WEEKLY LABOR MARKET READING

Total Claims Across All Programs Rise On Refreshed Stimulus - Summary 

Regular state claims fell -67K (-7%) w/w to 847K, while new PUA claims fell -20K (-5%) w/w to 426K.

Total Claims Across All Programs Rise On Refreshed Stimulus - Initial 

Total Claims Across All Programs Rise On Refreshed Stimulus - PUA

Continuing state claims of 4.8 million fell -4% w/w as the downtrend continues to move at a tepid pace.

Total Claims Across All Programs Rise On Refreshed Stimulus - Continuing

Meanwhile, Total Claimants, a figure that is lagged by two weeks, increased +2.3M (+14%) w/w to 18.3 million.

Total Claims Across All Programs Rise On Refreshed Stimulus - Total

PEUC claims increased +837K (+28%) w/w to 3.9M.

Total Claims Across All Programs Rise On Refreshed Stimulus - PEUC

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.

Total Claims Across All Programs Rise On Refreshed Stimulus - 152627