Just a week after The Fed slashed rates by a crisis-like 50bps, initial jobless claims tumbled back towards multi-decade lows (217k)...

Texas and New York saw the biggest drops in initial claims...

Continuing claims ticked up modestly to 1.834mm Americans...

If claims have any value in reality, then it seems unemployment rates are set to drop further...

Does that look like an economic background that prompts The Fed to almost unanimously decide to cut rates by 50bps?

...a week after The Fed slashed rates by 50bps.
{ai:summary}Initial jobless claims fell to 217,000, nearing multi-decade lows, following a 50bps rate cut by The Fed. States like Texas and New York reported the largest decreases in claims, while continuing claims rose slightly to 1.834 million. These trends suggest a potential decline in unemployment rates, raising questions about the appropriateness of the recent rate cut. #economy

Initial Jobless Claims Drop Back Near Multi-Decade Lows

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