3 weeks in a row now above 260k

Initial jobless claims held above 260k for a 3^rd straight week at 264k. The 4 week average is now 256k vs 247k last week and vs 238k in the week prior. That’s the highest since last November. Continuing claims, delayed by a week in its reporting, totaled 1.759mm, down from 1.772mm in the week before.

Bottom line, we seem to be on a new upward trend with …