I think you’re misunderstanding the numbers. The 500k (approx) number is new unemployment claims, but there’s also a similar number of new hires every week, it’s not that another net 500k are jobless each week. This number today is that net monthly number, which actually was not that bad. When you net out the census workers, private payrolls rose 67 k in the month, and last month was revised better too.
“similar number of new hires every week” to 500,000????
Tell me you are kidding.