Initial Jobless Claims Drop Back Near Multi-Decade Lows
Just a week after The Fed slashed rates by a crisis-like 50bps, initial jobless claims tumbled back towards multi-decade lows (217k)...
Source: Bloomberg
Texas and New York saw the biggest drops in initial claims...
Continuing claims ticked up modestly to 1.834mm Americans...
Source: Bloomberg
If claims have any value in reality, then it seems unemployment rates are set to drop further...
Source: Bloomberg
Does that look like an economic background that prompts The Fed to almost unanimously decide to cut rates by 50bps?
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