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IPFS News Link • Economy - Recession-Depression

Initial Jobless Claims Crash To Pandemic Lows; There's Just One Thing...

• Zero Hedge

After rising for two straight weeks, initial jobless claims crashed to pandemic lows, back below 600k for the first time since early March 2020...

Source: Bloomberg

Notably, the drop in claims was largely driven by a 75,645 drop in California... which, as Joe Brusuelas suggests, is indicative of the problems that remain in processing claims, backlogs and fraud in the states.