Wrong Way

As blog readers will know, we have been tracking new weekly claims for unemployment benefits in California as an indicator of the state of the labor market and the general economy.

Earlier this week, we also noted that the UCLA Anderson Forecast had described the third quarter of this year as a slowdown in the recovery, perhaps due to the delta variant.

In any case, the new claims data have been heading up - the wrong direction - in recent weeks as the chart below shows.

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*http://uclafacultyassociation.blogspot.com/2021/09/stretched-out-recovery.html.