Re: *Prompter Thread* (NO personal attacks, trolling, but Hamilton discussion OK)
Oof. Jobless claims from last week spiked significantly, and were well above forecast and prior week. This week's report, showing 965K Americans filing a first time claim, is the worst since August 2020. Forecasts had been for the claims to remain stable - at 789K vs prior week's 784K.
Just more evidence of the poor conditions in the labor market that Biden will be inheriting next week. This was all too easy to see coming as summer faded to fall and the Senate refused to act on numerous proposals and passed bills from the House, despite Mnuchin and Pelosi ironing out multiple deals that had bipartisan support. The stimulus deal passed a few weeks ago will take some time to aid the labor market, and until the current virus surge has passed, recovery will be difficult. In the interim, it is enormously important for the Biden admin to get additional aid passed within the first few weeks of the new administration. Q1 is at risk.
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