FAST FIVE: Initial Jobless Claims Suddenly Jumped Last Week

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Initial Jobless Claims Suddenly Jumped Last Week After Q2's significant weakening in the labor market (surging jobless claims), the last two months have seen seasonally-adjusted initial claims data revert optimistically lower.

Additionally, as the chart above shows, the number of Americans on continuing claims, which has also been trending lower, ticked up last week from 1.346mm to 1.361mm.

This is not the magnitude of 'bad' news that's required to get The Fed off its 'hawks to the moon' seat, but it is worth keeping an eye on as it perhaps represents a trend change.

US-based employers announced 29,989 cuts in September, a 46.4% increase from the 20,485 cuts announced in August.

September marks the fifth time this year that cuts were higher in 2022 than in the corresponding month a year earlier.

Categories: ZH