Initial Jobless Claims Tumble Back Into Their Four-Year Range As Texas Anomaly Normalizes

Initial jobless claims tumbled back into their four year range after spiking the prior week. From 264k prior, 231k Americans filed for jobless benefits for the first time last week

Source: Bloomberg

The drop in initial claims reflects a reversion of the mystery spike in Texas (apparently driven by hiring/firing of state educators)…

Source: Bloomberg

Texas swung from the biggest increase to the largest decrease in claims…

Continuing Claims trended lower but remains above the Maginot Line of 1.9 million Americans…

Source: Bloomberg

Will this lead Powell and The Fed to now cut back on their easing bias? Baffle ’em with bullshit (data) is back…