- Initial jobless claims 233K vs. 236K expected and 238K prior (revised to 239K).
- Continuing Claims 1839K vs. 1824K expected and 1828K prior (revised to 1821K).
- Continuing Claims data relates to the NFP survey week.
The data is within the range of estimates and shouldn't get the market to fret over it too much. Of note, Continuing Claims just set a new cycle high, which shows that the labour market continues to rebalance via less jobs availability rather than more layoffs for now.
That's a good thing for the Fed as inflationary pressures should keep abating. On the other hand, the labour market is a spot to keep an eye on carefully in this part of the cycle.
US Jobless Claims
