264,000 Americans filed for jobless benefits for the first time last week – the highest number since October 2021…
Source: Bloomberg
California, New Jersey, and Connecticut saw the largest jump in initial claims as perhaps the tech layoffs are starting to register (as severance packages run dry)…
Continuing claims – interestingly – drift lower (from 1.772mm to 1.759mm last week)…
Source: Bloomberg
Certainly nothing here to prompt The Fed to ‘told you so’ on the pause (but then again, the continuing claims are a week lagged).
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https://www.zerohedge.com/markets/number-americans-filing-first-time-jobless-benefits-hits-highest-oct-2021
