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US weekly initial jobless claims 196K versus 190K estimate

February 9, 2023 by admin 0 Comments

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Prior was 183K
4-week moving average 189.2K vs 191.75K prior
Continuing claims 1688K vs 1658K expected
Prior continuing claims 1655K

This is a small uptick but in order to get the labor market back into balance, the Fed will want to see something much closer to 300K. I don’t rule out that there’s some kind of unidentified secular trend in claims that’s skewing them particularly low but it could simply be that $15/hour jobs aren’t hard to find in most of the country.

This article was originally published by Forexlive.com. Read the original article here.