FYI: With jobless claims coming in at 50-year lows for the past few weeks, it is pretty surprising to see claims see a significant uptick to 230K this week, up by 37K from last week's revised reading of 193K. That is the largest week over week increase in claims since September 1, 2017 when claims jumped by 61K. Using our Economic Indicator Database, we also found that this week's print was the eleventh weakest relative to expectations since the recovery began in June 2009. This kind of jump shakes some of the optimism that the recent lows may have generated, but one week does not make a trend. Initial jobless claims are still at healthy levels with a streak of 67 weeks below 250K and 216 weeks below 300K.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/big-miss-from-jobless-claims
