Claims data

Off the mostly hurricane influenced lift in initial jobless claims in the prior two weeks, they fell back to 227k for the week ended 10/19, 15k below expectations and compares with 242k last week, 260k in the week before that and 225k before then. The 4 week average was 239k vs 237k last week. 

Offsetting the still benign pace of firing's as measured here, and notwithstanding the two week jump, is the continued elevated level of continuing claims which rose to 1.897mm, up 28k w/o/w and that is the most since November 2021.