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Date Posted: Friday, July15, 01:12:pm
Author: update
Subject: Re: the chickens have come home to roost.
In reply to: Unemployed, null and void 's message, "Re: the chickens have come home to roost." on Friday, July15, 10:11:am

It's going to climb much higher. The bottom in unemployment was hit in the beginning of april this year as the "bullwhip" effect of stimies peaked. Now, the reverse is in play. The wholesalers and retailers, that over ordered thinking the stimies would never end for the consumers, are stuck with inventory they can't get rid of because joe six pax is broke. That means production slows down and shipping slows down. This Monday, the eighteenth, the railroads may go on strike...that'll leave a mark.
fyi "In the week ending July 9, the advance figure for seasonally adjusted initial claims was 244,000, an increase of 9,000 from the previous week's unrevised level of 235,000. The 4-week moving average was 235,750, an increase of 3,250 from the previous week's unrevised average of 232,500... The largest increases in initial claims for the week ending July 2 were in New York (+5,165)..."
https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/ui-claims/20221490.pdf

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