The number of Americans filing for jobless benefits for the first time fell last week to 221k - the lowest in 3 months - as this high frequency labor market signal shows no signs of cracking for now. Initial jobless claims have gone literally nowhere for four years...
Source: Bloomberg
New York and Nevada saw the largest week over week rise in jobless claims...
Overall, continuing claims remains stubbornly above the 1.9 million Americans level - its highest since Nov 2021...
Source: Bloomberg
Finally, the DOGE impact is very clear now as continuing jobless claims in the 'Deep Tristate' region continue to soar - now at their highest since Dec 2021...
Source: Bloomberg
Something Musk can be proud of?
