In the week ending December 1, the advance figure for seasonally adjusted initial claims was 231,000, a decrease of 4,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 234,000 to 235,000. The 4-week moving average was 228,000, an increase of 4,250 from the previous week's revised average. The previous week's average was revised up by 500 from 223,250 to 223,750.
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I saw one mass layoff so far, Ford. Yet we are crashing!
Consider that unemployment may not rise much in a new recession, the productive boomers have already retired or are on the way out. We could see a rush to the exits by boomers and it will no show uptick in unemployment stats.
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