We have been tracking new weekly claims for unemployment benefits, especially for California, as an index as to the direction of the state economy (and state budget, therefore). Last week, however, had two days of Thanksgiving holiday which limited filings.
As the chart below indicates, there was a drop in such filings in California last week (and in the nation as a whole) after a period of stalling. We won't have an idea as to whether the drop was Thanksgiving-related or a resumed recovery until next week. Sorry for the lack of a verdict.
As usual, the latest numbers are at
https://www.dol.gov/ui/data.pdf.
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