Initial Jobless Claims were released this morning, showing that individuals filing for unemployment benefits for the first time last week dropped to 709k. Continuing Claims, or those that continue to receive benefits, also improved to 6.8M. Both of these figures have been moving in the right direction over the past few weeks, but we have to remember that when regular benefits expire, you can file for PEUC (Pandemic Emergency Unemployment Compensation), which extends their benefits another 13 weeks. That figure increased 160, so the drop in continuing claims is not as good as the headline would lead you to believe, but still good.