Initial jobless claims totaled 206k, 4k below expectations but mostly offset by the 3k person upward revision to last week’s print to a still low 212k. The 4 week average is now 204k vs 200k last week as a print of 189k 5 weeks ago drops out. Delayed by a week, continuing claims rose to just under 1.8mm vs 1.781mm in the week before but remaining below the 1.9mm ish level seen most of last year.
No change here in the bottom line which has been the same all year with the low pace of firing’s as measured here (for some who lose work, some get severance, some get gig jobs and don’t file) and a better rate of hiring’s compared to last year but still moderate.
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