High-Frequency Post-Virus Recovery - 2022-01-12
Date:
Thursday, January 13, 2022
Summary:
Big miss for new claims, but a bigger beat for continuing claims. So the claim-implied unemployment rate drops sharply, to within a mere 6 bp of its pre-pandemic low. But Omicron is taking its toll -- all our high-frequency indicators or remobilization are in an alarming lull.