Claims and productivity data/Atlanta Fed's wage tracker

Initial claims at 221k were about as expected and up a touch from 218k last week, reflecting, at least measured here, a muted pace of firing’s. Because the hurricane induced 260k print dropped out of the calculation, the 4 week average fell to 227k from 237k. On the other hand, continuing claims jumped to 1.892mm from 1.853mm and that is the highest since November 2021, highlighted the more subdued pace of hiring’s.

If you haven’t already, read the quotes from ZipRecruiter that I included in my first note today.