Jobless Claims Decline After Last Week’s Big Surge Amid New York Chaos

After the prior week’s big surprise jump in jobless claims, analysts expect a decline this week back into the lowest-in-forty-years range once again… and they were right as 222,000 Americans filed for jobless benefits for the first time last week (down from a revised 232k the prior week)…

Source: Bloomberg

This week saw claims plunge in New York…

…reversing the prior week’s massive surge in New York…

How does anyone believe these numbers?

Continuing claims remained glued around the 1.8mm range (1.794mm – slightly above 1.78mm exp)…

Source: Bloomberg

The BLS data remains completely decoupled from reality still…

Source: Bloomberg

Will this all change in November (depending who wins?)