Initial claims: nobody is getting laid off, but slight weakness in continuing claims compared with 2022
– by New Deal democrat
Initial claims remained below 200,000 at 195,000, while the 4 week average increased very slightly to 189,500. Continuing claims increased to 1,696,000, the third highest number in over a year:
Holiday seasonality has ended. It continues to be the case that almost nobody is getting laid off. Very slightly on the other hand, the relatively elevated number of continuing claims suggests a little weakness compared with 2022.