Following a weaker than expected AP print, jobless claims data is worse than expected too.

Initial claims rose to 238k last week from a revised 234k (and above the 235k expected). On an NSA basis, this is the highest since January...

Continuing claims continue to rise also, hitting 1.858 million Americans last week - the highest since Dec 2021...

The trend (4-week moving average) in initial claims is clear... and is starting to catch up to WARNs and Job Cuts...

Have Powell and Biden suddenly decided its ok to <a href="https://www.zerohedge.com/markets/why-powell-may-shock-markets-july-rate-cut">admit reality in order to force a July rate-cut and save the election?</a>

...unleash reality?
{ai:summary}Jobless claims rise, hitting highest levels since Jan. Trend catching up to job cuts. Will a rate cut save the election? #economy

Initial Jobless Claims Disappoint (Again), Continuing Claims Worst Since Dec 2021

Loading...