Initial jobless claims continues to drift along in the same range it has been in for three years (with NSA claims literally near record lows)...
Source: Bloomberg
The decline in SA and NSA claims appears driven by the normalization of Texas claim post-Beryl...
Source: Bloomberg
But we note that continuing jobless claims remains at its highest since Nov 2021...
Source: Bloomberg
With all the attention piled on to initial claims to support bullish-narrative-supporting thesis, how the hell can The Fed then turn around and cut rates to 'save the labor market' before it's too late?
More By This Author:
FOMC Minutes Show "Vast Majority" See September Cut As Appropriate20Y Auction Sees Lackluster Demand Despite 6th Consecutive Stop Through
WTI Extends Gains As US Crude Inventories Tumble To 6-Month Lows
Comments
Log in or sign up to join the conversation.