Claims data, spread widens between hiring's and firings

The spread between hiring’s and firings continues to widen seen in the claims data today. Initial claims totaled 217k, 1k less than expected and vs 220k last week (revised up by 3k). While the 4 week average rose to 212k from 211k and that is the most since mid September, the rate of firings remains pretty low. In contrast, and matching up with what ZipRecruiter said, continuing claims rose to the highest level since April and nearing its biggest print since December 2021. It’s up for the 7th straight week and higher by 22k in the week ended 10/27, reflecting the slowdown in hiring’s.