Except that....that 200,000+ number is per week...right? That means (no math whiz here, but even by my out of practice math “skills”)....about 800,000 to 1,000,000 (1 million) new unemployment claims per month. Right? And compared to the dismal “jobs created” numbers per month, that’s sucky math and ‘in the red’ numbers...any way you figure it.
Again, what am I missing? I’m really perplexed.
Let me put it in perspective:
Every month:
800,000 laid off
600,000 retire
1,000,000 resign
500,000 enter the labor force
2,500,000 get hired
Therefore, 200,000 net new jobs.
And roughly 10 million per year, or 50 million in five years... so it is obviously invalid / says nothing to simple cumulate these figures.
These figures are useful only in comparison with the comparable figures for a different period of time.
Regards,