- by New Deal democrat
New jobless claims have been the most important weekly economic datapoint this year, as they have correlated strongly with vaccination progress. Unfortunately, that progress has largely stalled in the past month, and now new jobless claims appear to have stalled as well.
This week new jobless claims declined 7,000 to 411,000, 37,000 higher than the pandemic low of 374,000 set two weeks ago. The 4 week average of claims also rose by 1,500 above last week’s pandemic low to 397,750.