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WTF Chart Of The Day: Initial Jobless Claims Continue To Confuse

Tyler Durden's Photo
by Tyler Durden
Authored...

Having torn apart the "official" BLW labor market data earlier in the month, this morning's jobless claims data remains a mystery. Unadjusted initial jobless claims tumbled to +177k - practically a record low while adjusted claims has been flat for the last month...

Source: Bloomberg

Continuing claims was flat on the week at 1.85mm Americans...

Source: Bloomberg

But the gap between the unemployment rate and unadjusted claims continues to widen...

Source: Bloomberg

...how can The Fed cut rates with near-record-low initial jobless claims prints?

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