Jobless Claims Fall Slightly In Latest Jobs Report While Continuing Claims Show Large Decline (Q3 GDP Forecast To Be 35.3% QoQ)

I made the mistake of watching the Pence and Harris Vice Presidential debate last night. It was like eating dinner with my in-laws.

But on to jobs. Initial jobless claims clocked in at 840,000 after a revised print of 849,000 last week. Continuing claims slowed to 10967k after a revised print last week of 11979k.

While initial claims are declining slowly, continuing claims (white line) are showing rapid improvement.

More good news? US Q3 GDP is forecast to be 35.302% as of today. A nice v-shaped recovery.

Take that Covid!

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