- Prior report to 222K revised
- initial jobless claims 240K versus 225K estimate. Highest since the week of August 13 when it was 245K. The high for the year was up at 261K during the week of July 16, 2022
- 4 week moving average of initial jobless claims 226.75K vs 221.25K last month
- Continuing claims 1.551M versus estimate of 1.517M. Prior week was 1.503M slightly lower than the 1.507M previously reported
- 4 week moving average of continuing claims 1.510M vs 1.482M (unrevised)
- The largest increases in initial claims for the week ending November 12 were in Minnesota (+1,971), North Carolina (+1,141), New Jersey (+1,020), Montana (+918), and Pennsylvania (+607),
- The largest decreases were in Kentucky (-3,330), Georgia (-1,726), Florida (-1,302), Indiana (-1,136), and Texas (-1,091).
It is quite a big jump in the claims data for the current week. It will be interesting to see if this is the trend rather than the exception.going forward, but the short term trend is to the upside since the last cycle low during the September 24 week.
Stocks are off a bit and near unchanged after the reports this morning. The 2 year is at 4.555% up 4 bps. The 10 year is at 3.776%, up 1.6 bps.