After dropping to its lowest since 1969 in the prior week, the number of Americans filing for jobless benefits for the first time rebounded last week to 206k (from an upowardly revised 188k). This was worse than the expected 200k.
Source: Bloomberg
Missouri and Kentucky saw the biggest increase in claims while New York and Texas showed the biggest drop in claims…
And overall, the number of Americans on some form of dole rose back near 2.5 million…
But remains near pre-COVID levels…
Source: Bloomberg
Obviously the problem is not jobless claims, the problem is the 4-million-plus Americans that just cannot find a fit in the current post-COVID labor market.
