wtorek, 10 września, 2024
Strona głównaInitialInitial Jobless Claims Rebounds To Highest Since Aug 2023

Initial Jobless Claims Rebounds To Highest Since Aug 2023

Initial Jobless Claims Rebounds To Highest Since Aug 2023

After seasonally-adjusted initial jobless claims plunged last week (NSA did not), they rebounded strongly this week from 223k to 243k – in line with the highest claims print since August 2023. On an NSA basis, claims exploded higher (and that is not a seasonal pattern).

Source: Bloomberg

The surge in NSA claims is dominated by Texas, California, and Georgia. Perhaps the spike in Texas is Hurricane Beryl-related?

Continuing jobless claims also picked back up, to 1.867mm Americans filing benefits – the highest since Nov 2021…

Source: Bloomberg

That trend in initial and continuing claims is not Americans’ friend (but maybe Wall St.’s 'bad news is good news’ best buddy?)…

Tyler Durden
Thu, 07/18/2024 – 08:36

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