Over the past 13 weeks, initial unemployment claims have remained remarkably consistent, hovering around 212k, despite the inherent variability in state programs and seasonal factors such as holidays.
If the trend of minimal volatility persists, it could erode confidence in the accuracy of unemployment data and raise concerns about underlying economic conditions.
Further stagnation in unemployment claims data could potentially trigger broader skepticism regarding the integrity of economic indicators and prompt demands for transparency and accountability from relevant authorities.
The last 13 weeks of initial unemployment claims. It finally moved off 212k, but barely.
Again, we are a $30 trillion economy with over 160 million workers. Unemployment insurance is a state program, meaning there are 50 states with 50 rules, 50 different ways to sign up, and 50… pic.twitter.com/rhlR9dfivT
— Jim Bianco (@biancoresearch) May 2, 2024
Biden now most unpopular president in his lifetime, sitting at a 38.7% job approval.
Follow: @AFpost pic.twitter.com/3NSWtJ598u
— AF Post (@AFpost) May 2, 2024
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