While payrolls data dominates the news on the labor market, the higher frequency (and perhaps less 'sanitized') jobless claims data remains noteworthy.

Initial claims dropped from 237k to 233k last week, rolling over from 9 month highs...

Continuing jobless claims were flat at 1.964mm Americans - the highest since Nov 2021...

The 'Deep TriState' dominated the rise in continuing claims, moving to its highest since Dec 2021

At the very least, Musk should be proud of this trend.

...as initial claims dipped from 9 month highs...
{ai:summary}Initial jobless claims fell slightly from 237,000 to 233,000, indicating a minor improvement in the labor market. However, continuing claims remained unchanged at 1.964 million, the highest level since November 2021, with the 'Deep TriState' region seeing a notable increase.This data suggests a mixed outlook for employment, with initial claims declining but continuing claims reflecting ongoing challenges for many Americans. #economy

'Deep TriState' Layoffs Leave Continuing Jobless Claims 'Stuck' At Highest Since 2021

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