It could reinforce views that the labor market has weathered the worst of the turbulence. Once approved they become continuing claims and are reported with a one-week lag. Continuing claims have eased from a record high of 24.912 million in early May. “We are seeing the labor market high on PPP money,” said Sung Won Sohn, a business economics professor at Loyola Marymount University in Los Angeles. Though PUA are filed weekly, they are not included in the initial and continuing claims count.

Source: Standard Digital June 11, 2020 03:15 UTC