Continuing Claims
The pandemic shoes start to drop. The stock market had recovered a lot of its initial pandemic losses. Yet, companies have been laying of people. Factories have been closing or operating at reduces capacity.
https://twitter.com/mathowie/status/1288712695986831361?s=21
It is no wonder that the bad news would eventually arrive.
The big economic report was a mixed bag: GDP fell at a 32.9% annual rate, which — while awful — was slightly better than expected. But a week-to-week increase in unemployment filing has economists antsy.
Continuing claims are people who file for unemployment for at least a second week in a row. The number and trend hint where we are in the economic recovery.
And it ain’t looking good folks.