Although weekly claims came out a bit higher than expected when we consider the revisions it is sharply unchanged. Continuing claims were a bit worse which leads me to believe that there could be a mindset to wait and see if a stimulus package will be passed and have some say “why should I go back to work” as has been the attitude of many in the past. All in all it shows me the need to get businesses and schools to open safely. Hear are the numbers.
Weekly jobless claims totaled 884,000 last week vs. estimates of 850,000.
Continuing claims totaled 13.385 million, an increase of 93,000 from the previous week.