Naht!
In the week ending April 18, the advance figure for seasonally adjusted initial claims was 640,000, an increase of 27,000 from the previous week’s revised figure of 613,000. The 4-week moving average was 646,750, a decrease of 4,250 from the previous week’s unrevised average of 651,000.
…
The advance number for seasonally adjusted insured unemployment during the week ending April 11 was 6,137,000, an increase of 93,000 from the preceding week’s revised level of 6,044,000.
Yeah, not lookin so good.
Continued claims are now at 6.14 million – the all time record.
And yet every month, people are out there cheerleading the bottom, time to buy, etc etc. while unemployment is hitting all-time (since recording started, no real recording was done during Depression 1.0) highs. Where do they think their income money is going to come from once poor people run out of UE? Poor people, those who spend all the money they have and more, is what drives our economy, no the occasional large purchases by rich people.
They will learn.