COVID numbers are starting to go down, but jobless claims continue to rise.
This is starting to get investors extremely nervous, with the GOP continuing to point to the extra unemployment benefits as a major factor.
Estimates for this week were just shy of 360,000 claims, but the number came in at 412,000, raising a lot of eyebrows.
All Bad News
In a little more than two weeks, June’s job report will hit, and it could have the biggest impact on the economy yet.
Since Biden has taken office, every report has been somber, showing no signs of a recovering economy.
Biden and Democrats continue to make lemonade out of lemons, but everyone is starting to see through this charade.
The sad reality is that there are jobs available, but people do not want to go to work because the latest stimulus package passed by Democrats pays them more to stay at home.
At this point, seasonal workers should be heading to work, so numbers should be on a significant decline, not an increase.
Hinting that June’s job reports could be far worse than expected, continuing claims also rose this week, going up 1,000 to a total of 3.518 million compared to projections of a decline down to 3.43 million.
Currently, 7.6 million fewer workers are punching the clock than before the pandemic.
If June’s numbers do not at least meet expectations, this entire country better dig in because it is going to get ugly.
Source: Fox Business