Market comment - Jobless claims continue to decline slowly

Davy Research
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There was a small decline in Pandemic Unemployment Payment (PUP) claims this week (9,700), bringing total claims to 202,000. The relatively small reductions in recent weeks suggest that job gains following the easing of lockdown restrictions are continuing to tail off. It remains to be seen the extent to which the return of indoor dining and the requirement for recipients to reconfirm their eligibility (both delayed until early next week) will affect the drop off in PUP claim numbers.