Initial jobless claims dropped modestly (SA) from 245k to 235k last week (while on an NSA basis, claims crashed back to earth after last week’s spike)…
Source: Bloomberg
New York, Michigan, and California all saw claims crash last week on an NSA basis…
…but Texas claims continue to surge due to the storm…
Source: Bloomberg
Continuing jobless claims continue to hold above the 1.8 million Maginot Line – at their highest since Dec 2021…
Source: Bloomberg
Is this enough for more rate-cuts?
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