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New CA Jobless Claims Down by 23K...But Don't Get Too Excited

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Photo by Luna Vandoorne via Shutterstock
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Did you sense that something was different this week? Something like...fewer new jobless claims?

If so, you should always trust your Spidey sense, because California reported the biggest drop in new jobless claims in the whole country this past week, according to the Los Angeles Business Journal. Claims went down by 23,689.

Before you get too excited, though, you should know that this figure looks a lot like just another spike in a roller coaster of a trend. This week, new claims were down, sure. But last week, they were up by 20,000. The week before, they were down by 15,000, and the week before that they were up by 2,000.

So hold off on throwing that "unemployment is over" party that we know you've been itching to plan. Too soon.