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Continuing Claims “Exhaustion Rate”
Posted By Barry Ritholtz On June 22, 2009 @ 10:00 am In Film,Finance,Friday Night Jazz,Investing,Markets | Comments Disabled
Last week, we saw Continuing Claims decrease — proof, said the green shooters, of the imminent economic recovery.
Only, not so much:
Those of you (who can still afford the luxury of) a trusty Bloomberg will note the ‘exhaustion rate’ for jobless benefits – EXHTRATE – reveals that people are not leaving the pool of continuing unemployment claims because they are getting new jobs; Rather, they are leaving because they have exhausted their benefits.
They are now unemployed AND broke. That is hardly a green shoot . . .
Hat tip Bill King
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