Initial jobless claims rise 100,000, unadjusted claims fall 100,000

I am writing this initial part just after 8AM EDT while I await the jobless claims. I told you on Monday I expect a big number = larger than most. And I will update you when the claims come in, as I write. But I want to talk about the second leg down in a W-style recession first.

Employment

Ben Casselman had a good thread on Twitter about what's happening…