The Number Of Americans Claiming Jobless Benefits Hits 17-Month High

Initial jobless claims were expected to tick higher last week and it did, up to 245k (from 239k prior and higher than the 240k expectation). That is basically in line with the highest level since Jan ’22.

Source: Bloomberg

Continuing claims continued to rise, up from 1.804mm to 1.865mm last week.

That is the highest level since Dec 2021.

It appears those revisions changed everything.