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 increased +13K (+2%) w/w to 861K, while new PUA claims increased +174K (+51%) w/w to 516K.
Continuing state claims of 4.5 million fell -1% w/w.
Meanwhile, Total Claimants, a figure that is lagged by two weeks, decreased -1.3M (-7%) w/w to 18.3 million.
PEUC claims decreased -718K (-15%) w/w to 4.1M.
Although initial and continuing state claims continue to very slowly trend downwards, both figures remain at dauntingly high levels.
Nonetheless, the projected benefits of refreshed stimulus and the new, greater prospects for additional stimulus following the new Congressional makeup in Washington will more than likely prove successful in further suppressing the symptoms of widespread and increasingly permanent unemployment over the next few months.