Jobless claims ticked down to 197k this week—slightly better than expected, but continuing claims crept up to 1.716M. The headline number looks fine, but the drift in continuing claims suggests people aren't finding new jobs as quickly.
California added 4.6k claims, Illinois and New York also up. Hawaii, Michigan, Maryland saw small declines.
Not a red flag, but not exactly strength either. Labor market is cooling, not cracking—yet. Watch the trend, not the print.
California added 4.6k claims, Illinois and New York also up. Hawaii, Michigan, Maryland saw small declines.
Not a red flag, but not exactly strength either. Labor market is cooling, not cracking—yet. Watch the trend, not the print.