Continuing Jobless Claims Jump To 3 Year Highs

Initial jobless claims tumbled last week from 242k to 227k as the impact of Hurricane Helene starts to fade from the benefits rolls…

Source: Bloomberg

However, Hurricane Milton’s impact on Florida is suddenly very evident…

…as North Carolina claims fall back…

Source: Bloomberg

However, continuing jobless claims rose to 1.897 million Americans – the highest since Nov 2021…

Source: Bloomberg

So, take your pick! Cut rates because of soaring continuing claims… or ‘hold’ as initial claims revert back towards multi-year lows?