Slow Strengthening

First time claims for unemployment fell for the 10th straight week to a still painful 1.54 million/week vs. 220,000/week before the Coronavirus, but down from a high of 6.87 million the week ending 3/28/20. Moreover, continuing claims have been steady at 21 million for three straight weeks after rising for eight straight and peaking at 24.9 million the week ending 5/9/20. Before the Coronavirus onset, they were just 1.7 million/week.

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