Continuing claims 1668k vs 1650K expected
The US initial jobless claims rose to 224K versus 215K expected.
- Prior week revised higher to 221K from 216K
- continuing claims also are higher than expectations at 1668K versus 1650K expected. The prior week was revised lower to 1670K from 1676K.
- the four-week moving average rose to 218.5 K versus 216.5K
- 4+ month high for jobless claims.
In an alarmist market, there is a small positive trend developing in the data since bottoming in Sept/Oct. Now the numbers are still way low but it is worth monitoring going forward.
- The largest increases in initial claims for the week ending November 10 were in California (+4,206), New York (+3,502), New Jersey (+2,916), Minnesota (+1,804), and Texas (+1,789),
- The largest decreases were in Michigan (-3,495), North Carolina (-1,708), Oklahoma (-831), Indiana (-532), and Ohio (-145).
