Friday, September 11, 2020

Unemployement compensation counts moving in wrong direction two weeks in a row

Was 27 million two weeks ago
Was 29 million one week ago
Was 29.6 million this week.
These are continuing unemployment claims for state programs and new federal programs. The federal programs include people with no hours of work or reduced hours of work. The state programs include people with no hours of work. I believe this count better represents the total paid work hours lost since the good old days in early 2020, while the "official" 8.4 percent unemployment rate makes the economy seem much stronger than it is. 
Explanation here:
https://el2017.blogspot.com/2020/09/how-many-people-are-really-unemployed.html

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