The Number Of Americans Filing For First-Time Unemployment Claims Soared To 8-Month-Highs Last Week
Despite the 'surprise' gains in BLS payrolls data (and the disappointment in the establishment survey), the number of Americans filing for unemployment benefits for the first time surged to 251k last week - the highest since Nov 2021...
(Click on image to enlarge)
Source: Bloomberg
Massachusetts saw initial claims soar last week (along with California and South Carolina) while New York, Ohio, and New Jersey saw claims drop...
(Click on image to enlarge)
Continuing claims also rose to 1.384 million Americans, the highest since April 2022.
And judging by ISM employment data, the tightening of the labor market is only just beginning...
(Click on image to enlarge)
Source: Bloomberg
Presumably this is what Jay Powell wants... but Biden doesn't!
More By This Author:
Tesla Pumps And Dumps After Earnings Beat; Sells 75% Of All BitcoinsChina Spent 72% More On Russian Oil In June As Moscow Remains Top Chinese Supplier; Saudi Volumes Tumble
Euro Surges On Report ECB Looking "Closely" At 50bps Rate Hike As Lagarde Rushes To Complete "Italian Bond Purchase" Mechanism
Disclosure: Copyright ©2009-2022 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every ...
more
Comments
