Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Make Jobless Claims Relevant Again?
For most of the current cycle in the US, jobless claims were largely inert such that a series which, during the earliest days of the pandemic, was among the most important macro indicators on the planet, became nearly irrelevant.
At some point, jobless claims will be notable again, but the sheer number of false starts on that front makes anyone who suggests a given uptick might be the start of something seem like the boy who cried wolf.
With that in mind, claims unexpectedly shot up to 242,000
When my daughter got laid off two years ago after her employer was sucked up by a bunch of idiots, I asked her if she her and her husband (also laid off, in his case by Larry Ellison) were going to go get their unemployment and she said hell no. If we do that they will start telling us what to do. Every stupid job will be thrust at us to get us off the dole. So now my kid is working again as a well heeled competitor to the folks that laid her off. I was just wondering how under reported unemployment numbers might be because not everyone signs up for bad jobs they would be forced to take to get the meager cash they would have to accept.