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by stupandaus
2263 days ago
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Building on my analysis from last week:
1. This week's 6.6M jobless claims represents ~4% of the estimated ~160-165M US Workforce. 2. This is incremental to the 3.3M jobless claims filed week ending 3/21, totaling ~10M total jobless claims in the past 2 weeks 3. The US unemployment rate was ~3.5% as of EOM February, so cumulatively that means we've hit ~10% unemployment as of EOW 3/28 and that number is likely low (not accounting for gig workers) and almost certainly worsening this week. [1] https://data.bls.gov/timeseries/LNS14000000 |
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