Continuing claims near 2+ year high; likely the effect of Silicon Valley layoffs  – by New Deal democrat Initial claims rose by 9,000 to a three month high of 224,000 last week. The four-week moving average also rose 5,350 to 207,750. With the usual one-week lag, however, continuing claims rose sharply, by 70,000, to 1.898 million, […]

Despite the continued elevation of continued claims, initial claims signal continued expansion  – by New Deal democrat I’ll comment on personal income and spending later this morning, but let’s start out with our weekly update on jobless claims. Initial claims rose 7,000 to 218,000, while the 4 week average declined -500 to 220,000. With a […]

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. […]