Initial Jobless Claims Tumble Back Near Multi-Decade Lows

Initial jobless claims continue to show no signs of labor market weakness whatsoever, tumbling from 225k to 207k last week. Unadjusted claims have reversed all of the holiday season surge…

Source: Bloomberg

California was the source of the largest decline in initial claims once again…

Initial claims continue to hover near multi-decade lows…

Source: Bloomberg

Continuing claims fell last week but remain in a tight range around 1.9 million Americans…

Source: Bloomberg

This data just confirms Powell’s comments yesterday on the strength of the labor market and offers doves nothing in the way of hope for rate cuts being pulled forward.