Pandemic Emergency Jobless Claims Soar To Record High

By Tyler Durden

With California’s fraudulent data issues ‘fixed’, initial jobless claims data is at least a little cleaner and printed a better than expected 751k – that’s the best level since pre-lockdown. Reminder, however, that this is still around 4x the pre-lockdown normal.

Source: Bloomberg

Continuing claims fell back below 8 million, its lowest level since pre-lockdowns…

Source: Bloomberg

Total Claims fell WoW…

Source: Bloomberg


But Pandemic Emergency Jobless Claims surged once again…

Source: Bloomberg

Sadly, as Peter Schiff recently noted, a lot of the people who have gone back to work in recent weeks will eventually find themselves in the unemployment line again.

I think a lot of these people who have been recalled, who have come back to work, I think ultimately their employers are going to realize, after the fact, that they don’t really need a lot of these workers, and a lot of these workers are going to be re-fired. Except next time it is going to be permanent, not temporary.”

Lockdowns and the government/central bank response to the ensuing economic fallout may have permanently scarred the labor market and there are signs of deep wounds that won’t quickly heal. In a nutshell, a lot of people will likely never return to work.

Source: Zerohedge

Become a Patron!

Subscribe to Activist Post for truth, peace, and freedom news. Send resources to the front lines of peace and freedom HERE! Follow us on SoMee, HIVE, Parler, Flote, Minds, and Twitter.

Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today.

Activist Post Daily Newsletter

Subscription is FREE and CONFIDENTIAL
Free Report: How To Survive The Job Automation Apocalypse with subscription

Be the first to comment on "Pandemic Emergency Jobless Claims Soar To Record High"

Leave a comment

Your email address will not be published.