After tumbling nears 2023 lows in the prior week, the number of Americans filing for jobless benefits rose de minimisly from a revised 203k to 205k - basically at the year's lows...
Source: Bloomberg
California and Georgia saw the largest drop in initial claims while Ohio saw the biggest increase.
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California's claims data has been anything but stable...
Source: Bloomberg
Continuing Claims were flat at 1.865mm Americans, holding around their highest since 2021...
Source: Bloomberg
Does near record low initial jobless claims really fit with a Fed expecting to cut rates at least three times next year?