- by New Deal democrat
New jobless claims are likely to the most important weekly economic data for the next 3 to 6 months. As the number of those vaccinated continues to increase, I expect a big increase in renewed consumer and social activities, with a concomitant gain in monthly employment gains - as we saw in the March jobs report last week.
Here is the close up since last August (recall that these numbers were in the range of 5 to 7 million at their worst in early April):
Continuing claims, which historically lag initial claims by a few weeks to several months, continued to make new pandemic lows yet again this week. Seasonally adjusted continuing claims declined by 16,000 to 3,734,000, while the unadjusted number declined by 67,666 to 4,031,531: