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HEDGEYE FINANCIALS WEEKLY LABOR MARKET READING
Regular state claims increased -193K (-25%) w/w to 576K, while new PUA claims dropped -20K (-13%) w/w to 132K.
Continuing state claims of 3.73 million, reported on a one week lag, effectively held flat w/w.
Meanwhile, Total Claimants, a figure that is lagged by two weeks, decreased -1.2 million (-6.8%) w/w to 16.93 million.
PEUC claims decreased -475K (-8.4%) w/w to 5.2M.
Although the pace of the recovery in initial and continuing state claims has finally picked up, both figures remain at dauntingly high levels.
Nonetheless, the 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 several months.