Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Jobless Claims Surge Again As Sirens Blare In US Labor Market
In news that should surprise exactly nobody, initial jobless claims surged for a second week in the US.
885,000 people filed for unemployment benefits in the week through December 12. That was far more than the 815,000 consensus expected. Unadjusted claims were 947,000, the highest since July.
The disconcerting news comes on the heels of the previous week's "surprising" rise, which was itself revised higher (i.e., worse) to 862,000. The four-week moving average is now back above 800,000.
88
In addition to obviously not really caring about unemployment, here is another thing going on:
Out here in the mountains, it appears that those in power (Dems) got Trump’s memo about herd immunity. The gondolas, chairlifts, restaurants, bars are all packed (so I am told). In order to maintain social distancing, a reservation is required to ski–and they are all booked up! LOL (I am laughing at how ineffective this is).
If I want to ski, I am going to have to “skin up”(ugh)!
Going to be scary in about 2 weeks.
Better not count on the government to protect us!
Ah yes: the comforting lie that outbreaks are a city problem, that in God’s country, full of fresh air and sunshine, nothing bad can happen.
I suppose it’s refreshing that this isn’t a partisan issue; red or blue, rural America is falling for their own positivity bias. What I don’t quite get is: why are none of these towns and businesses paying attention to the canaries in the coal mine? Once your town goes down, good luck attracting tourists for the remainder of the winter!
CA’s big ski town (Mammoth) had a policy in place through the late season last winter: the slopes are open, but the hospitals and clinics are closed to tourists. If you get injured, kindly drive yourself back to LA!
In Switzerland, there are billboards asking those at high risk to sign DNR’s.
Makes sense to me. Can we get non-mask people to do that?
Live Free or Die?
Go ahead – leaves more for me.