Initial jobless claims hovered just above 200k (204k to be exact) for the second week in a row (well below the 215k exp) but the non-seasonally-adjusted claims data printed at 175 – its lowest since Sept 2022…
Source: Bloomberg
The distortions in initial claims – from Ohio fraud to Minnesota extensions – appear to have largely been ‘fixed’…
Source: Bloomberg
Though we note that Ohio saw claims jump significantly, only outdone by California…
Continuing claims remain well below 1.7mm…
Source: Bloomberg
Finally, we wonder just what is going on with the claims data when The Conference Board survey is signaling the labor market is worsening significantly and financial conditions are tightening aggressively…
Source: Bloomberg
When will this data be ‘free’ to reflect reality?
Tyler Durden
Thu, 09/28/2023 – 08:42
