The big problem is the number of people now using extended jobless benefits:
Continuing claims fell by 18,000 to 4.6 million in the week ended Jan. 9. The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.
Today’s report showed the number of people who’ve used up their traditional benefits and are now collecting extended payments increased by about 613,000 to 5.92 million in the week ended Jan. 2.
Houston, we have a problem.
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