DOGE Is Working: Continuing Jobless Claims In ‘Deep TriState’ Surge To 4 Year Highs

The number of Americans filing for jobless benefits for the first rose to 240k last week – the most in a month and more than expected…

Source: Bloomberg

The 240k print was 6 standard deviations above expectations (and above the highest estimate)…

Source: Bloomberg

Michigan (and an estimated California) saw the biggest jump in initial claims while Illinois and Texas saw the biggest drop in initial claims last week…

Continuing claims rose further to 1.919 million Americans – the most since November 2021…

Source: Bloomberg

It seems like DOGE is working as continuing jobless claims in the ‘Deep TriState’ continues to surge

Source: Bloomberg

And initial claims remain elevated in the DC, VA, MD region…

Source: Bloomberg

So, while Musk is rightly disappointed at the lack of spending cuts in the budget, he can be proud that some of the waste in employees is finally being drained from the swamp.