Initial Jobless Claims Near Record Lows, Continuing Claims At 2-Year-Highs

After tumbling nears 2023 lows in the prior week, the number of Americans filing for jobless benefits rose de minimisly from a revised 203k to 205k – basically at the year’s lows…

Source: Bloomberg

California and Georgia saw the largest drop in initial claims while Ohio saw the biggest increase…

California’s claims data has been anything but stable…

Source: Bloomberg

Continuing Claims were flat at 1.865mm Americans, holding around their highest since 2021…

Source: Bloomberg

Does near record low initial jobless claims really fit with a Fed expecting to cut rates at least three times next year?