Roth MKM's Michael Darda suggests that a 22% increase in continuing claims is unparalleled except during a recession.

Michael Darda, chief economist and macro strategist at Roth MKM, joins 'The Exchange' to discuss near term indicators of recession, timing a recession through jobless claims numbers, and staying defensive with sectors like healthcare. For access to live and exclusive video from CNBC subscribe to CNBC PRO: » Subscribe to CNBC TV: » Subscribe to CNBC: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBCTV ...(read more)

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Continuing claims up 22% is unprecedented outside of a recession, says Roth MKM's Michael Darda The economic impact of the COVID-19 pandemic has been unprecedented in many ways. From the closure of businesses and skyrocketing unemployment rates to the stock market volatility and government stimulus packages, the world has been grappling with an economic crisis on a global scale. One of the indicators of the economic fallout from the pandemic is the number of continuing jobless claims. These claims represent individuals who have filed for unemployment benefits and are still unemployed and actively seeking work. According to Michael Darda, chief economist and market strategist at Roth MKM, the increase of 22% in continuing claims is unprecedented outside of a recession. Typically, during an economic downturn or recession, the number of continuing claims rises as businesses lay off workers and job opportunities become scarce. However, outside of these periods, such a significant increase in continuing claims is rare. It underscores the severity of the current economic crisis and the challenges faced by individuals in finding new employment. The situation is a reflection of the economic devastation caused by the pandemic and related lockdown measures. Businesses across various industries, from retail and hospitality to manufacturing and transportation, have been severely impacted, leading to widespread job losses. Even as some countries started to ease restrictions and reopen their economies, many businesses have struggled to recover and rehire workers due to reduced consumer demand and ongoing uncertainties. Government support in the form of stimulus packages and unemployment benefits has played a crucial role in assisting individuals affected by the economic downturn. However, as the crisis persists, the strain on government resources and the effectiveness of these measures come into question. There is growing concern about the long-term impact on the labor market and the ability of individuals to find new employment once the pandemic subsides. The unprecedented nature of the increase in continuing claims outside of a recession highlights the need for a coordinated effort from governments, businesses, and individuals to navigate the economic challenges ahead. Governments must continue to provide support to affected individuals and businesses, while also implementing strategies to stimulate economic growth and job creation. Businesses need to adapt to the changing market dynamics and invest in innovation and digitalization to remain resilient. Additionally, individuals will need to enhance their skills and embrace new opportunities in emerging sectors. The road to recovery will undoubtedly be challenging, but with concerted efforts and a resilient spirit, economies can gradually rebuild and overcome the long-lasting impact of the pandemic. It is crucial for all stakeholders to work collaboratively and proactively to ensure a more inclusive and sustainable future for the labor market. https://inflationprotection.org/roth-mkms-michael-darda-suggests-that-a-22-increase-in-continuing-claims-is-unparalleled-except-during-a-recession/?feed_id=114997&_unique_id=64a7fe51e2a47 #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #business #CNBC #economy #Finance #investing #kellyevans #money #news #newsroom #politics #Stocks #theexchange #WallStreet #RecessionNews #breakingnews #business #CNBC #economy #Finance #investing #kellyevans #money #news #newsroom #politics #Stocks #theexchange #WallStreet