Impossible to Sugarcoat the Disastrous Unemployment Claims

For the 8th week, continued claims were near or above 20 million.

Disastrous Continued Claims

Initial claims rose by 1.48 million but continued claims at 19.52 million tell the real story.

Continued Claims Historical Perspective

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Initial Claims

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Not a Leading Indicator

Initial claims are touted as a "leading indicator". 

They aren't much of one if indeed anything at all. 

The Myth of the V-Shaped Recovery in One Chart

In case you missed it, please see The Myth of the V-Shaped Recovery in One Chart.

Life Support

20 million people out of work for 8 straight weeks tells the real story: 

This economy is on life support of $600 monthly Federal unemployment insurance due to run out this month.

IMF Assessment

Even the perennially late IMF is beginning to catch on. 

It's a Crisis Like No Other: IMF Downgrades US GDP to -8.0%