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Media Continues to Misreport Unemployment: 31.8 Million People on State & Federal Unemployment Insurance. Week 18 of U.S. Labor Market Collapse

From wolfstreet.com

I get tired of reporters or bots who don’t read beyond the 2nd paragraph of Labor Department press releases. 2.35 million initial state and federal unemployment claims. PUA claims (gig workers) now 41% of total unemployment. 20% of labor force on unemployment insurance. It just doesn’t let up. An astounding number of newly laid-off workers keeps filing for unemployment benefits week after week and pile on top of the people already unemployed. And the number of people who started working again isn’t big enough to make a visible dent in the curve. In the week ended July 18, the total number of people who continued to ... (full story)

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  • Category: Fundamental Analysis