US unemployment claims climb past one million for second week in a row

In the week ending August 22, the advance figure for seasonally adjusted initial claimswas 1,006,000, a decrease of 98,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 1,106,000 to 1,104,000. The 4-week moving average was 1,068,000, a decrease of 107,250 from the previous week's revised average. The previous week's average was revised down by 500 from 1,175,750 to 1,175,250.
source:[www.dol.gov]

The more telling number is not the INITIAL CLAIMS.
It's the current number of people who are unemployed. Which is over 15 million.

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cbelt3
The more telling number is not the INITIAL CLAIMS.
It's the current number of people who are unemployed. Which is over 15 million.

Is that your final answer for U6 at the end of August?

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In tha 360. MRF User Map

Let's look at the charts - not as easy to get to these days (I wonder why?):

Unemployment rate still higher than at any point during the Great Recession - in fact, still higher than any time going back to Reagan:



Labor force participation rate lower than at any time since circa 1977 (around the time women started working in larger numbers):



...and jobs? Trump et al have not only wiped out any jobs they created in 4 years, but those back to circa 2012 as well:



All graphs from BLS; my black-line annotation added to the last one.

TRUMP has been enjoying thee long and steady recovery started by Obama. He said it was slow... but look how bad it was. he came in power when economy was in very good shape and reduced some regulations and enjoyed another 3 years on that wave.

Then it crashed... due to Covid. It may have been still good for another year or two without covid. But eventually another recession was eventually due.

Anyway, the stock market is surprisingly high for the state of the economy IMHO.

Buffet is sounding the alarm on the irrational highs of the current stock market.

It's a bubble of all bubbles. The only thing keeping it inflated is the Fed's zero-interest rate policy. There's nowhere else to put your money.

So, it's stocks for all...until it suddenly isn't. I'm mostly staying clear.

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pdq
It's a bubble of all bubbles. The only thing keeping it inflated is the Fed's zero-interest rate policy. There's nowhere else to put your money.

So, it's stocks for all...until it suddenly isn't. I'm mostly staying clear.

I have a lot of tech stocks that have done great.

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sekker

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pdq
It's a bubble of all bubbles. The only thing keeping it inflated is the Fed's zero-interest rate policy. There's nowhere else to put your money.

So, it's stocks for all...until it suddenly isn't. I'm mostly staying clear.

I have a lot of tech stocks that have done great.

And by and large, they’ve done great (doubling, in the case of Apple) despite having earnings that have changed little.

Price-to-earnings ratios have soared and are higher than any time in history, except for the froth around 2000. That ended poorly.