Initial Jobless Claims Hit 3-Year High (Despite Post-Election Surge In 'Hiring Plans')
On a non-seasonally-adjusted basis, jobless claims exploded higher in the second week of January to 351k - the highest since the second week of 2022...
Source: Bloomberg
Adjusted claims also rose from 203k to 217k.
Continuing claims dipped from 1.877mm Americans to 1.859mm...
Source: Bloomberg
Interesting that amid the record surge in small business optimism post-election, that unadjusted claims would soar so high?
Source: Bloomberg
We're sure it's just a coincidence and nothing to do with Trump.
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