Initial Jobless Claims Refuse To Show Any Signs Of Cracking

Initial jobless claims improved last week, falling from 234k to 229k, remaining in the same near-record-low range it has been in for the last three years. On an unadjusted basis, claims are back near record lows…

Source: Bloomberg

Continuing jobless claims dipped from the prior week, but remain near their highest since Nov 2021 (though not accelerating)…

Source: Bloomberg

There was more weakness in the ‘Deep TriState’ region as continuing jobless claims rose in DC, Virginia, and Maryland combined…

Source: Bloomberg

Again, we ask, if shit is so bad that CEO confidence remains dramatically lower, why aren’t jobless claims following suit (actions speak louder than words)…

Source: Bloomberg

Not exactly data that demands rate-cuts anytime soon.