...the numbers get...weird. The timing this week of seasonal layoffs in the auto industry caused a major drop in both new claims (down 47,000) and in continuing claims (down an awesome 642,000!!!).
All this means is that this being the summer furlough season for automakers, suddenly all those thousands of workers got canned well before the July shutdowns, throwing off the numbers. Weekly numbers for the next few works will be "distorted".
We'll see where the monthly numbers come out in three weeks.
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