“Continuing jobless claims in the US have reached 3-year highs, reaching 1.7 million, while initial claims have plummeted to 7-month lows, down 4,000 to 234,000. The mixed data suggests the US labor market is showing resilience in the face of economic uncertainty. #economy #jobs”
Continuing Jobless Claims Hit 3-Year-Highs As Initial Claims Tumble To 7-Month-Lows
Just 213,000 Americans filed for first-time jobless benefits last week – the lowest number since April – as natural disasters’ effects fade from the data…
Source: Bloomberg
The overhang from the hurricanes has seemingly ended…
Source: Bloomberg
But WTF is going on in California?
Last week saw initial claims explode higher there..
…and this week claims collapsed…
However, the number of Americans filing for continuing jobless claims jumped back above 1.9 million for the first time since November 2021…
Source: Bloomberg
So is the labor market in trouble or not?