Persistent unemployment and fears of further layoffs are the real economic counterpoint to the financial market’s unbridled enthusiasm.
This week’s U.S. jobless report brought bad news. Whereas economists had expected new claims to fall to 1.29 million from 1.57 million the week before, claims fell just 58,000 to 1.51 million.
Continuing claims fared even worse. Economists predicted these claims would fall 600,000+ to 19.9 million. Instead, they fell a tenth of that – 62,000 – to leave total continuing claims at 20.5 million.
In this episode, NLW breaks down what we can learn from these numbers when they’re combined with the previously released May jobs report.
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