Initial jobless claims continue to show no signs of labor market weakness whatsoever, tumbling from 225k to 207k last week. Unadjusted claims have reversed all of the holiday season surge...
Source: Bloomberg
California was the source of the largest decline in initial claims once again...
Initial claims continue to hover near multi-decade lows...
Source: Bloomberg
Continuing claims fell last week but remain in a tight range around 1.9 million Americans...
Source: Bloomberg
This data just confirms Powell's comments yesterday on the strength of the labor market and offers doves nothing in the way of hope for rate cuts being pulled forward.
