No. of Recommendations: 3
“Weekly jobless claims jump to 231,000, the highest since August”
SNIP
“Jobless claims totaled a seasonally adjusted 231,000 for the week ending on May 4, up 22,000 from the week before.
It was the highest claims number since late August 2023.
Continuing claims, which run a week behind, increased to 1.78 million, up 17,000 from the previous week.”
“Weekly jobless claims are one of the timeliest indicators of when the economy is starting to undergo serious deterioration, and the magnitude of new layoffs this week looks worrisome,” wrote Christopher Rupkey, chief economist at FWDBONDS. “One week does not a trend make, but we can no longer be sure that calm seas lie ahead for the US economy if today’s weekly jobless claims are any indication.”
cnbc.com - Weekly jobless claims jump to the highest since august 