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Takeaway: The slow recovery from elevated Initial and continuing state claims levels persists as PUA claims see new inflows.

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The Torpid U.I. Claims Recovery Endures - 04.07.2017 jobs cartoon

HEDGEYE FINANCIALS WEEKLY LABOR MARKET READING

The Torpid U.I. Claims Recovery Endures - Summary 

Regular state claims increased +13K (+2%) w/w to 861K, while new PUA claims increased +174K (+51%) w/w to 516K.

The Torpid U.I. Claims Recovery Endures - Initial 

The Torpid U.I. Claims Recovery Endures - PUA

Continuing state claims of 4.5 million fell -1% w/w.

The Torpid U.I. Claims Recovery Endures - Continue

Meanwhile, Total Claimants, a figure that is lagged by two weeks, decreased -1.3M (-7%) w/w to 18.3 million.

The Torpid U.I. Claims Recovery Endures - Total

PEUC claims decreased -718K (-15%) w/w to 4.1M.

The Torpid U.I. Claims Recovery Endures - PEUC

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.

The Torpid U.I. Claims Recovery Endures - 152627