Total Number Of Americans On The Dole Drops Below 12 Million For First Time Since COVID Crisis

Initial jobless claims dropped below their recent range last week, falling to their lowest level since the COVID-lockdowns crushed the economy. 348k Americans filed for jobless benefits for the first time last wek (down from 377k last week and below the 364k expectation)…

Source: Bloomberg

Virgina, New Mexico, and California saw the biggest rises in claims while Texas, Illinois, and Kentucky saw the biggest drop in claims…

The total number of Americans on some form of jobless benefit fell below 12 million for the first time since the COVID-lockdowns…

Source: Bloomberg

Despite the positive news, only a net 10k Americans fell of Pandemic-based benefits

We suspect that will accelerate shortly as states drop the handouts… or, like the eviction moratorium, will it be extended?