Initial Claims is the number of people who lost there job in one week. There are tens of thousands who are hired and fired/quit every week.
The NFP jobs report is the NET INCREASE OR DECREASE of that churn (caveat - not the same data set but related)
The initial claims we are experiencing now is well within normal range for a growing economy.
NFP shows 66K jobs lost - initial claims were 350K. “Not the same data set” is an understatement.
“well within normal range for a growing economy.”
A mischaracterization if there ever was one. Growing technically but at an extremely anemic rate.
If it continues to grow at this “normal” rate this country’s economy will collapse of it’s own weight.
That “churn” is grinding us right straight toward depression, not recovery from anything. With the fake unemployment rate down to 6.6 % we gotta be just a few weeks away from the Kenyan claiming we are at full employment——wait for it. And now that the Kenyan has liberated everyone from those boring drudgery jobs by giving them part time ones it shouldn’t be long before he announces the plan to pay the rent/mortgages for part-time liberated.
I notice in the above chart that gov’t employment is down. Who believes that? And that pretty much makes all the gov’t reporting suspect if not out and out corrupt.