The number of Americans filing for jobless benefits for the first time jumped significantly last week (from 225k to 242k - well above expectations of 220k) - the highest since the first week of October.
On an un-adjusted basis, claims exploded higher (highest since January)...
Source: Bloomberg
Oh, and in case you need someone to blame for this utter farce - it's California of course. Just look at the last four weeks of unadjusted claims - exploding higher and crashing lower like a penny stock? Must be all those sanctuary-seeking illegals?
Continuing jobless claims remains below the 1.9mm Maginot Line (1.886mm) - hovering near the highest levels since Nov 2021...
Source: Bloomberg
The seasonals in the initial claims data is just the 'excuse' The Fed needs to feed the beast with another rate-cut next week... and then 'revise' the print lower once again.
The number of Americans filing for jobless benefits for the first time jumped significantly last week (from 225k to 242k - well above expectations of 220k) - the highest since the first week of October.
On an un-adjusted basis, claims exploded higher (highest since January)...
Source: Bloomberg
Oh, and in case you need someone to blame for this utter farce - it's California of course. Just look at the last four weeks of unadjusted claims - exploding higher and crashing lower like a penny stock? Must be all those sanctuary-seeking illegals?
Continuing jobless claims remains below the 1.9mm Maginot Line (1.886mm) - hovering near the highest levels since Nov 2021...
Source: Bloomberg
The seasonals in the initial claims data is just the 'excuse' The Fed needs to feed the beast with another rate-cut next week... and then 'revise' the print lower once again.