Jobless Claims Better Than Expected, But Stalled Re-Opening Push Looms Large
Last week, a disappointing read on jobless claims was lost in the cacophony around a blockbuster June payrolls report.
Or, actually, that's not entirely true. To be honest, I was surprised at how much attention the claims numbers received on a day when the world's most important top-tier economic data point printed a huge upside surprise, emboldening bulls and optimists ahead of the long holiday weekend in the US.
While nonfarm payrolls showed the economy added 4.8 million jobs last month, cla
Claims are based on real data, no? As opposed to the Employment Situation stats which are, as I understand it, largely survey-based.
correct—don’t quote me on the exact numbers, but there are two surveys–Household (60,000 ish) of actual people and the Establishment which is the payroll number you see which is 500k+ business and govt employers….While claims is based on actual filings for unemployment insurance. The establishment is less volatile than Household so that is why it tends to get reference more, but of course the unemployment rate is from household measure. Clear as mud I am sure