It's Jobless Thursday

And initial unemployment claims are back up to 457,000, with the 4-week moving average rising slightly to 566,000, continuing claims fell by 42K to 4.34 million, and emergency claims, which, by the way expire on November 30, rose by 357.7K to 5.01 million.

Total up those numbers and things are getting worse, and come November 30 they expire.

Extended unemployment insurance will likely not be renewed, because the threat of electoral punishment is gone from the Republicans, and over 5 million people lose UI benefits, which will crush consumer demand in the middle of the all-important holiday season.

So we have a cohort of 99ers who would be losing their unemployment benefits anyway, along with millions of people who will be abruptly cut off.

This is going to get very ugly very fast.