The number of Americans filing for jobless benefits for the first time decline from 210k (upwardly revised from 200k) to 209k (slightly above the 205k exp), but remaining near those multi-decade lows and showing no signs of labor market stress. Unadjusted claims plunged as the seasonal pain ebbed away…
Source: Bloomberg
Even more impressively, continuing jobless claims tumbled to 1.827 million Americans – the lowest since Sept 2024…
Source: Bloomberg
All of which confirms Powell’s labor market “stabilization” view.
So with jobless claims data showing a ‘strong and improving’ labor market, while The Conference Board showing a labor market signals ‘jobs are hard to get’…
Source: Bloomberg
…is this a classic indicator of the ‘no fire, no hire’ economy?
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