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June 18, 2020 | Unemployment Claims Dip But Remain Stubbornly High

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Initial unemployment claims dipped slightly to 1,508,000.
For the 13th consecutive week initial unemployment claims topped the 1.5 million mark.Initial Claims 1980-Present

Initial Unemployment Claims 1980-Present 2020-06-18

To put things into proper perspective, initial unemployment claims never topped the 1 million mark before Covid-19.

Now we have had 13 consecutive weeks in which claims topped 1.5 million.

Econoday Consensus

The econoday consensus estimate for claims was 1.22 million.

For many weeks the number of claims have topped the Econoday consensus.

Things are improving, but much slower than expected.

Mish

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June 18th, 2020

Posted In: Mish Talk

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