We have been tracking new weekly claims for unemployment insurance as an indicator of the pace of labor market recovery - usually on Thursdays. We are a day late today, but the story remains the same as last week. We seem to have plateaued. On this measure, things are not roaring back. Yesterday and the day before, we posted about the UCLA Anderson Forecast which indicates that things return to normal some time over the next year or two. So maybe "roar" - the term the governor uses - is not the right description.
As always, the new claims data are at https://www.dol.gov/ui/data.pdf.
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