Initial first time jobless claims were released on Wednesday, December 23rd, one day prior to the usual Thursday. Because of Christmas Eve, that week was a shortened.
The jobless claims from this past week were another whopping 803,000 claims. Illinois and Virginia saw the greatest spike of the claims.
AUTHOR COMMENTARY
I will continue to say it until the cow’s come home: there is no “v-shaped” recovery. The Great Recession’s worst week saw roughly 670,000 claims. America has been doing over 800,000 almost every single week. The claims did not go lower then 1 million until August. There has not been a single week the jobless claims have been lower then the worst week of the Great Recession. America is an economic freefall. If you are not preparing, you need to do so A.S.A.P.
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