by Wolf Richter
Torrent of 2.4 million new claims under state & federal programs this week. PUA claims by gig workers now 45% of 32 million in total unemployment. Many people are hired back, but many people are newly laid off. Labor market recovery remains hard to discern.
The torrent of newly laid-off workers keeps flowing into state unemployment offices to claim unemployment at an astounding rate week after week. But many people who were claiming unemployment benefits in prior weeks were called back to work, or found new work. And the total number of people who continued to claim unemployment compensation in the week ended July 11 under all state and federal unemployment insurance programs, including gig workers and contract workers, dipped by 433,000 to 32.0 million (not seasonally adjusted), according to the Department of Labor this morning. It was the second highest level ever, after last week’s gut-wrenching record.