840,000 Americans Filed For First-Time Unemployment Benefits Last Week

840,000 Americans filed for first time unemployment benefits last week – worse than the 820k expectation, but slightly better than the upwardly revised 849k the priod week.

Source: Bloomberg

This is still over four times higher than the pre-COVID levels.

We also note that while aggregate jobless claims fell, Pandemic Emergency Claims (blue region) increased last week…

Source: Bloomberg

Florida, Illinois, and Virginia saw the biggest jump in jobless claims. New Jersey, Michigan, and Pennsylvania saw the biggest improvement.

Continuing Claims dropped back below 11 million – the lowest (best level since March)…

Source: Bloomberg