The number of Americans filing for jobless benefits for the first time rose very modestly to 219k last week - still hovering around multi-decade lows
Source: Bloomberg
But, amid DOGE's demolition of the Deep State, we note one region that is seeing initial jobless claims soar this year. .. The District Of Columbia...
Source: Bloomberg
DC is the major standout year-to-date in terms of percentage rise in jobless claims...
But California dominated the decrease in jobless claims last week, while Kentucky and Tennessee saw the biggest rise...
Meanwhile, continuing jobless claims continue to hold near 4 year highs around 1.9 million Americans...
Source: Bloomberg
So, for now, the decline of employment in DC is NOT knocking into the rest of the US economy - does that mean they were completely unproductive?