Thu, January 14, 2021, 8:31 AM EST·3 min read
New weekly unemployment claims spiked far more than expected last week to reach a five-month high, as the coronavirus pandemic and stay-in-place orders weighed heavily on the labor market.
The U.S. Department of Labor released its weekly report on new jobless claims Thursday morning at 8:30 a.m. ET. Here were the main results in the report, compared to consensus estimates compiled by Bloomberg:
— Initial jobless claims, week ended Jan. 9: 965,000 vs. 789,000 expected and a revised 784,000 during the prior week
— Continuing claims, week ended Jan. 2: 5.271 million vs. 5.000 million expected and 5.072 million during the prior week
At 965,000, new jobless claims hit the highest level since August, ending what had been a tentative start of a downward trend in initial claims.
The numbers are far worse then we are being told. But who cares when the rich are getting their tax cuts and profiting from the pandemic that is killing and disabling many thousands every day.
Oh, and speaking of the pandemic: The next time you come across someone refusing to wear a mask in public because they can’t breathe, tell them “Maybe if would brush your teeth once in awhile, your mask would not clog up so bad and interfere with your breathing through it.”
We are an arrogant species, believing our fantasy based "facts" are better than the other person's fake facts.
If you are wrong, it will be because you are not cynical enough.
Both major political parties are special interest groups enabling each other for power and money, at the expense of the people they no longer properly serve…
Always wear a proper mask when out and about. The life you save could be both yours and mine.