US May Non Farm Payroll for May Rose +2.5 Million v Expected -7.5 Million Loss

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    The US Labor Department last month reported the…



    US initial jobless claims 1542K v 1550K estimate prior revised to 1897K from 1877’K last week

    initial jobless claims 4 week moving average 2002.00K vs 2288.25K

    continuing claims 20929K vs 20000K estimate. The prior week was revised to 21268K from 21487K the previous week
    continuing claims 4 week moving average 21987.50 vs 22392.25K last week.

    During the week ending May 23, 42 states reported 9,715,948 individuals claiming Pandemic Unemployment Assistance benefits or PUA. These benefits are not included in the weekly statistics. A total of 32 states reported 518,942 individuals claiming Pandemic Emergency Unemployment Compensation benefits.

    These benefits are to self employed and independent contractors who have been affected by the COVID-19 pandemic (or Uber economy). As a result, the overall numbers are worse than reported.


    Fed’s Barkin says Some of the jobs lost will not come back and the health crisis has disproportionately affected people of color


    US initial jobless claims w.e. 20 June 1,480K v 1,320K expected
    Prior 1,508K; revised to 1,540K

    4-week moving average 1,621K Prior 1,782K

    Continuing claims w.e. 13 June 19,522K vs 20,000K expected
    Prior 20,544K; revised to 20,289K

    The latest number was more than double its peak during the 2007-09 Great Recession, lifting the total reported since March 21st to 47.3 million.

    Pandemic unemployment assistance 11.05m vs 9.37m prior

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