Initial Jobless Claims, which measures individuals filing for unemployment benefits for the first time, was down 42,000 to 712,000…but there were revisions to the previous week making the decline look bigger. Continuing Claims, or those that continue to receive benefits, decreased by 193,000 to 4.144M. The Pandemic Unemployment Assistance Claims, which gives individuals benefits who would not usually qualify, increased by 1.1M, while the Pandemic Emergency Claims, which extends claims by 13 weeks after regular benefits expire, increased by 1M. Both of these numbers are at pandemic highs. The total number of continued benefits in all programs was 20.1M, an increase of 2.1M from the previous week. There were 2.1M weekly claims filed for benefits in all programs in the comparable week in 2020. Bottom line – The headline figures appear better and are near pandemic lows, but much of that is expiration of benefits and people going into the PUA and Emergency claims.