Claims data, slight clip from DC/Philly optimism currently but...

Initial jobless claims rose to 219k from 214k and that was 4k above the estimate. The 4 week average of 215k is down 1k w/o/w as a print of 223k drops out of the calculation. Continuing claims totaled 1.869mm as expected and still around the highest since November 2021.

By the way, the Washington, DC claims figure as of 2/14 is near a 2 yr high at 1,695 which compares to 473 in February 2020, as to be expected with the layoffs going on.

Outside of this, the story remains the same with the low level of firing's as measured here and the more subdued, but still good, pace of hiring's.

Following a positive print seen Tuesday in the NY manufacturing February index, the Philly regional index just out was +18.1, 4 pts above expectations and after the January spike to 44.3 and vs -10.9 in December. Also similar to the NY survey was the further rise in prices paid and prices received.

Those paid rose to 40.5 from 31.9 and that is the highest since October 2022. Prices received were up 3.2 pts m/o/m to the most since November 2022.