The number of Americans filing for jobless benefits for the first time dropped to 243k last week, down very modestly from a revised lower 245k the prior week (and better than the 252k expected). The 4-week average resumed its uptrend…
Continuing Claims data improved marginally from 1.434mm to 1.415mm.
So, what the hell is going on with the payrolls data?
Finally, as we detailed previously, while the chart above shows a serious decoupling between two ‘labor market’ indicators, PwC recently indicated an even greater discrepancy between the hope-filled pre-Midterms non-farm payrolls data and the reality among America’s corporations and workers.