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IPFS News Link • Economy - Economics USA

Americans On Jobless Benefits Jumps Back Above 17 Million As Initial Claims Dip

• Zero Hedge - Tyler Durden

After tumbling to pandemic lows the previous week, thanks to a collapse in California claims (that suggested fraud/systemic issues and not economic improvements), analysts expected some give back last week, but they were wrong as the number of Americans filing for first time jobless claims plunged to 547k - a new pandemic low.

Source: Bloomberg

Texas and New York saw the biggest drops in claimants as Virginia and Inidiana saw the biggest rise...

Unfortunately, the number of Americans on some form of jobless benefits rose back above 17 million...

Source: Bloomberg

Maybe they don't want a job when being paid for couch-sitting pays so well?