- by New Deal democrat
New jobless claims continue to be the most important weekly economic datapoint, as increasing numbers of vaccinated people and outdoor activities have led to an abatement of the pandemic - both new infections and deaths are near their lowest points in a year.
We have hit my objective for new claims to be under 500,000 by Memorial Day. My second objective is for them to be below 400,000 by Labor Day.
NOTE: Given the unprecedented scope of layoffs during the earliest phase of the pandemic, I have given heightened importance to the non-seasonally adjusted numbers. Once May is over, their importance recedes and I expect to discontinue tracking them.
New jobless claims declined 34,000 to 444,000. On a unadjusted basis, new jobless claims declined 37,395 to 454,634. The 4 week average of claims also declined by 30,500 to 504,750. All of these were new pandemic lows.