Reopening Appears in Continuing Claims

Another 2.1 million filings for unemployment today. This is still 3 times more than any time before the COVID recession. However, the more interesting number is continuing claims.

You can see for the first time since the start of the recession claims fell by about 3 million. Since no one has run out of unemployment benefits yet, these are people going back to work.

Note this still gives the US 21 million people getting unemployment. The prior highest total was about 6.5 million during the financial crisis, so this is still a huge number.

This will be a number to watch going forward for the recovery.