Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski, recession roulette player. Artwork by David Parkins.
36.2 Labor Crisis: Another 742,000 Newly Unemployed
An estimated 742,000 Americans submitted initial claims for unemployment insurance in the week ending November 14. That is ‘worst all-time’ prior to the 2020 experience and is wholly inappropriate EIGHT MONTHS AFTER the shock.
00:05 A new weekly, mournful ritual review of the jobless claims for insurance in the USA
02:24 About 742,000 people filed initial claims for unemployment insurance (in November?!)
05:33 Continued claims for unemployment insurance have fallen precipitously, but for bad reasons
08:14 Comparing America’s worst post-WW2 recessions through the lens of the labor market
It Will Have To Be Our New Weekly Ritual: https://bit.ly/39aL90K
Making Sense’s Review of Economic Symmetry: https://youtu.be/yGOiHqVdE_M
Alhambra Investments Blog: https://bit.ly/2VIC2wW
RealClear Markets Essays: https://bit.ly/38tL5a7