JEPI - New Jobless Claims Continue To Improve While Continuing Claims Concerningly Stall

• New jobless claims declined 34,000 to 473,000. On an unadjusted basis, new jobless claims declined 26,286 to 487,436. The 4-week average of claims also declined by 28,250 to 534,000.
• At the peak of the pandemic lockdowns, new claims were running 6-7 million per week. Current claims remain at a level typical of recessions in the 50 years prior to the pandemic.
• Continuing claims declined 145,000 to 3,655,000, but are 3,000 above their pandemic low of 3 weeks ago.

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