With more states ending their emergency handouts to the jobless, claims data is likely to start getting noisy but last week saw initial claims tumble more than expected (to a post-COVID low of 364k from 415k last week)
Source: Bloomberg
Pennsylvania remains an outlier among the states…
The total number of Americans of some form of government dole continues to hover just below 15 million…
Source: Bloomberg
Finally, a reminder of just how decoupled benefit-gobbling non-jobseekers have become from job openings in America…
Source: Bloomberg
As pandemic aid receivers barely budged…
The free-money non-workfest however is coming to an end soon.
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