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I understand how U6 is much more accurate than U3 in stating the unemployment rate, but what I am asking about is how the INITIAL UNEMPLOYMENT CLAIMS number shows about 500,000 new claims every single week but the MONTHLY JOB LOSSES are reported as only about the same number.
How can their be four new unemployment claims filed for each one job lost?
This gets reported all the time in the news media but nobody ever explains it.
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Does anyone understand how the unemployment numbers are being calculated?
I keep reading “weekly intial unemployment claims” reports with about 500,000 people filing
claims, yet the “monthly unemployment” numbers are only around 250,000 to 600,000.
Wouldn't 500,000 “new claims” per week translate to about 2,000,000 job losses per month?
What am I missing here?