Since the COVID Event started, The US has had over 42M unemployment claims and lost 17.7 million jobs. Both numbers are interesting to follow. Keep in mind that when a person goes back to work, the unemployment stops, but they are still tallied in a previous week’s unemployment Typically the unemployment claims and job losses/gains move in a tightly coupled manner. We do not expect to see that for a while. In May we had 9.6M Unemployment claims and added 2.27M jobs back. While 2.27 sounds good, we are still down 17.7M jobs since February. Take the good news [...]

Since the Corona Virus Event started, The US has had over 33 million unemployment claims and lost 21.2 million jobs. First, a quick primer on why the is a 12 million difference between the unemployment claims and job losses. Unemployment claims are a hard tally. Someone had to personally file a claim to get counted. Job losses is a statistical sampling done by the Department of Labor. It relies on companies revealing their interpretation of the job loss. A furloughed job may not count as a loss. The two typically move close in tandem. Not so when there is [...]