As Wolf Richter has pointed out, when you look at the unadjusted numbers and you include all state and federal programs, the number of continuing unemployment claims increased by a whopping 1.3 million last week…

The total number of people who continued to claim unemployment insurance under all state and federal unemployment programs jumped by 1.3 million from the prior week to 32.12 million (not seasonally adjusted), the Department of Labor reported this morning. It was the second highest ever.

That would seem to indicate that unemployment is dramatically surging, and that is really bad news for an economy that is already deeply suffering.

…the economic suffering of countless American families just got a whole lot deeper…

In other words, instead of witnessing a “recovery” we are witnessing an “unraveling”.

theeconomiccollapseblog The Economic Depression Of 2020 Is Becoming An Endless Nightmare For Millions Of Americans