Following last week’s plunge back below 200k, analysts expected a small rise to 209k this week but the number of Americans filing for jobless benefits for the first time remained flat at 200k. Notably, as is usual at this time of year, non-seasonally-adjusted claims spiked…
Source: Bloomberg
…basically hovering at its lowest levels since 1969…
Source: Bloomberg
Continuing jobless claims also ticked down (to 1.849 million Americans) – the lowest since November…
Source: Bloomberg
All of which fits with the ebbing of rate-cut expectations for this year…
Source: Bloomberg
…likely much to the chagrin of President Trump.
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