Initial Jobless Claims Tumble To 8-Month Lows To End The Year

The number of Americans filing for jobless benefits for the first time tumbled to 211k in the last week of 2024 (down from 220k the prior week and well below the 221k exp). That is the lowest claims print since April...

Source: Bloomberg

Notably, unadjusted claims rose for the second week in a row.

California and Texas saw the biggest declines in claims last week, while Michigan saw the biggest increase...

Continuing claims also tumbled back below the 1.9 million Maginot Line (to 1.844mm vs 1.89mm exp). That is the lowest since September...

Source: Bloomberg

Seems like Powell and his pals will be struggling to come up with reasons to cut rates on Jan 29th if this first data point of the year starts a trend.