micky wrote

OT Why does the press routinely report the number of new
applications for unemployment insurance for the week (or
the day?), and whether the number has gone up or down?

Mine doesn't, but its one bit of data on the state of the economy.

It seems to me that the number of NEW cases in any period
is almost random, depending on when employers decide they
have to lay people off, and that's influenced by a dozen factors.

But is dominated by the state of the economy when its not a pandemic.

Therefore it can go up or down without meaning anything.

It does mean something about the state of the economy
for the country as a whole absent policy changes.

OTOH what matters is the total number of people collecting
unemployment. That's the measure of how many are unemployed.

Trouble is that it includes those who choose not to work
and out their hand out to the state for benefits instead.

And the other problem is that plenty don't need to
collect unemployment when they are unemployed.

Say the number of applications for unemployment drops
50% from the previous week, or 90%. So what, if 90+%
of those who were unemployed last week still are.

They also list the total receiving unemployment
and the total unemployed, separately.