The number of Americans filing for unemployment benefits for the first time held below 200k again last week......basically hovering at its lowest since 1969...Pennsylvania and New Jersey saw claims rise the most last week while North Carolina and Ohio saw the biggest decline...Continuing jobless claims ticked up, just above 1.8 million Americans...After ADP's disappointing job additions, it appears the 'low hire, no fire' economy is entrenched.Will tomorrow's payrolls print confirm that?
Initial Jobless Claims Remain Near 57-Year Lows
Initial jobless claims hold near 57-year lows below 200k; continuing claims tick up to 1.8M.
· Source: zerohedge.com
Summary
Initial jobless claims remained below 200k for another week, holding near their lowest level since 1969, while continuing claims edged up to just above 1.8 million. The data reinforces a 'low hire, no fire' labor market dynamic—employers are cautious on new hires but retaining existing staff. With ADP's recent miss on job additions and tomorrow's nonfarm payrolls report looming, this sets the stage for a potential miss on the official jobs data, which could materially shift Fed rate-cut expectations.
Counting Ticks summarises and links to reporting from third-party publishers. The full article and its copyright remain with zerohedge.com.
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