US Continuing Jobless Claims Hover At 32-Month Highs
Initial jobless claims dropped modestly (SA) from 245k to 235k last week (while on an NSA basis, claims crashed back to earth after last week's spike)...
Source: Bloomberg
New York, Michigan, and California all saw claims crash last week on an NSA basis...
...but Texas claims continue to surge due to the storm...
Source: Bloomberg
Continuing jobless claims continue to hold above the 1.8 million Maginot Line - at their highest since Dec 2021...
Source: Bloomberg
Is this enough for more rate-cuts?
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