Initial jobless claims dropped back near 2025 lows (220k, below expected)...
However, while initial claims remain solid, continuing jobless claims drifted higher to 1.974 million Americans - the highest level since October 2021...
Likely thanks to the shutdown, we note that initial jobless claims for the 'Deep Tristate' fell significantly...
Now that Washington is back to work, we suspect those workers will be getting more pink slips once again.
Finally, it appears jobless claims data is shrugging off the layoff announcements that have surged in recent weeks...
Who do you believe?
https://www.zerohedge.com/personal-finance/continuing-jobless-claims-highest-4-years
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