Claims data more of the same/Mfr'g recession carries on

Initial jobless claims totaled 205k, 10k less than expected but up a touch from last week's print of 203k. This brings the 4 week average to 212k from 214k last week. Continuing claims were little changed, down by 1k, to 1.865mm, still near the highest level since November 2021. 

The bottom line remains the same, we have a benign pace of firing's but a slowdown in the rate of hiring's.

4 week avg in Initial Claims

Continuing Claims