Initial jobless claims hovered just above 200k (204k to be exact) for the second week in a row (well below the 215k exp) but the <strong>non-seasonally-adjusted claims data printed at 175 - its lowest since Sept 2022...</strong>

The distortions in initial claims - from Ohio fraud to Minnesota extensions - appear to have largely been 'fixed'...

Though we note that Ohio saw claims jump significantly, only outdone by California...

Continuing claims remain well below 1.7mm...

Finally, we wonder just what is going on with the claims data when The Conference Board survey is signaling the labor market is worsening significantly and financial conditions are tightening aggressively...

When will this data be 'free' to reflect reality?

...unadjusted claims at their lowest since Sept 2022..
{ai:summary}<p>Initial jobless claims stayed just above 200k for the second straight week, lower than expected. The non-seasonally-adjusted claims hit their lowest level since September 2022. (#economy) The distortions in claims data from fraud and extensions in Ohio and Minnesota seem to have been mostly resolved. Ohio saw a significant increase in claims, second only to California. Continuing claims remain below 1.7 million. However, The Conference Board survey suggests that the labor market is deteriorating and financial conditions are tightening, raising questions about the accuracy of the claims data. (#economy)</p>

Initial Jobless Claims Drops To 12-Month Lows

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