Hello everyone welcome to the Real Vision daily briefing for

real vision I'm Max Worthy it's December 3rd at 4 p.m. here in New York City

right after market close I'm joined today by Jack Farley and Ed Harrison but before I I talk with Jack, let's send it over to Haley Drasnan

for today's stories.

Hey Max, we saw the market rally again on Thursday.

This time, good jobless claims data that was released earlier today.

Initial jobless claims fell last week to 712,000,

that's well below the expectations for 780,000 and down from 787,000, which is the revised number from the prior week.

It's the first drop in three weeks and the lowest since the pandemic hit in March. But it came during

Thanksgiving week and people don't really file claims as much when there are

holidays. So there is a natural falloff that occurs, but we just don't know how big it was and we can't really read in too much to these numbers.

Thinking ahead, the Thanksgiving related drop could cause a measure of catch-up when next week's numbers are

released so we'll continue to monitor that very closely. It's important to

note that while these numbers do show gradual improvements, they're still well above

pre-pandemic levels. We're talking three times the pre-pandemic levels and they haven't

even did below the Great Recession peak of 665,000 initial jobless claims.

So let's hold off on the parties.

There are still over 20 million people on some kind of benefits.

Context really matters here.

Bottom line, layoffs are still happening in the COVID economy.

25 states reported more than 1,000 layoffs each last week. They are concentrated in the same sectors

we saw when people pulled back in March, like food services, health care, retail, and hotels.

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