FYI: The Department of Labor's weekly report on initial jobless claims were expected to fall from 220K from 222K last week on a seasonally adjusted basis. The release surprised with stronger results showing only 216K initial jobless claims. That is the lowest print since claims came in at 212K on May 23rd. With this stronger print, a couple of impressive streaks continue. For starters, claims have remained at or below 300K for a record 224 weeks. Additionally, this week marks the 89th week at or below 250K. That ties the previous record of 89 weeks ending January 10th, 1970! Save a massive spike higher, claims will likely beat that record next week.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/tied-for-record-streak-in-claims
