Last week, we saw Continuing Claims decrease — proof, said the green shooters, of the imminent economic recovery.
Only, not so much:
Those of you (who can still afford the luxury of) a trusty Bloomberg will note the ‘exhaustion rate’ for jobless benefits – EXHTRATE — reveals that people are not leaving the pool of continuing unemployment claims because they are getting new jobs; Rather, they are leaving because they have exhausted their benefits.
They are now unemployed AND broke. That is hardly a green shoot . . .
Exhaustion Rate: U.S. Workers Losing Unemployment Aid
Hat tip Bill King