On the heels of a 53.4% YoY rise in job cut announcements (released by Challenger, Gray, & Christmas), initial jobless claims remain in a world of their own, rising very modestly to 225k from 219k…
Source: BloombergInitial claims (SA and NSA) remain rangebound – showing absolutely ZERO indication of labor market stress…
Source: BloombergContinuing claims were flat at 1.826mm Americans
Source: BloombergAdditionally, jobless claims are also completely decoupled from the BLS’ official unemployment rate…
Source: BloombergSo, JOLTS and Claims are super strong while ‘soft’ survey data (ISM/PMI/UMICH/CONF BOARD) all show labor market indicators tumbling…
Source: Bloomberg…take your pick to support your political pundit’s choice of how many more rate-cuts we get this year (with stocks and home prices at record highs).More By This Author:Bank Of America Customers Report Widespread Outage, Zero BalancesWTI Extends Gains After API Reports Another Crude Inventory DrawKey Events This Week: Payrolls, Powell, JOLTS And Fed Speakers Galore
