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They are reliable (pending revisions based mostly on late reporting from the states), but they don't tell us much about the employment situation.
Two things to remember...First, tomorrow's report is based on the week of April 10 - 16, so the last two weeks of increased UI claims won't be reflected. And at the same time, some people delay weeks or months before making their claims. Second, UI claims are GROSS additions to unemployed (and incomplete at that because quits, new entrants and re-entrants are obviously missed) and does not account for new hires.
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