All of a sudden, we are seeing the wrong kinds of ‘me vs. you’ with the higher spread of Covid-19, resulting in greater lockdowns and restrictions. Meanwhile, the Initial Jobless Claims jumped higher than expected, and while the trend is lower, there is no doubt this is a cause for concern.
On October 31st, the Pandemic Unemployment Assistance (PUA) and the Pandemic Emergency Unemployment Compensation (PEUC) comprised 64.3% of the combined total of Americans receiving one or the other form of unemployment insurance benefits. These programs will expire on December 31, 2020.
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