Initial Jobless Claims Still Elevated But Declining Further

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For the first time since the pandemic began, initial jobless claims in the United States fell below the one million mark. Do not judge by the chart below, as it includes PUA initial claims – but the trend is declining, and that is an encouraging sign. 
Still, almost a million people (963k) applied for unemployment benefits – a staggering number by all metrics. Compared with the period prior to the pandemic, the job market remains…

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