That means in 12 months 5.4 million lost their jobs right? So this means if it keeps up at 450K next year 10.8 million more with no jobs? Can this keep going this high? At some point wont companies run out of people to fire?
we are heading for a chaos The history of mankind never seen a country like USA where it keeps printing paper and the whole world buys it so that USA will not collapse. At some point, the world will recognize that the paper they have in their pocket is worthless and at that time WWIII will start.
It's a new claims number, not a net number. It means 450K people made new claims, but that doesn't say how many previously unemployed people found new jobs or left the job market. It also doesn't indicate how many new workers entered the job market Generally new claims in the mid-400s is about the break-even point. Less than 400K means job growth. More than 500K means job loss.