FYI: Initial Jobless Claims ticked up again this week after last week’s reading came down off of a recent high from the week prior. Since late last year, jobless claims have been fairly volatile with the seasonally adjusted number swinging from its lowest levels since the 60s all the way up to the aforementioned high which broke a historically long streak of strong readings. This week’s reading of 239K was a 4K increase from last week’s revised reading of 235K. While the reading is not a new high, it is at the upper end of the range that we have seen in the last year. Despite the uptick, this week’s data has maintained the streak of 206 weeks below 300K. While still healthy, several weeks of these spikes could be a sign of some cooling in what has been a historically hot labor market.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/claims-tick-up-again/
