This morning the Department of Labour announced another 6.6M Americans have filed for jobless claims in the week ending April 4th, 2020. This being the third straight week of a large jump in claims since COVID-19 measures started taking place.
The advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from the previous week’s revised level. The previous week’s level was revised up by 219,000 from 6,648,000 to 6,867,000. The 4-week moving average was 4,265,500, an increase of 1,598,750 from the previous week’s revised average. The previous week’s average was revised up by 54,750 from 2,612,000 to 2,666,750.
I am noticing a trend here. The same morning the Federal Reserve bank announced another $2.3 trillion of funding to suppor the economy.
Information for this briefing was found via the Department of Labor and the Federal Reserve Bank. The author has no securities or affiliations with any of the mentioned securities. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
Hyperinflation: Remember, GDP = Money Supply x Velocity
When trying to wrap my head around economics, I like to simplify basic principles down...