3.9 C
New York
Friday, March 31, 2023

Subscribe

HomeMarkets
Markets

Jobless Claims Improve (Again) As Labor Costs Soar More Than Expected

By zerohedge
0
55

Despite the ongoing headlines of layoffs across all industries, US jobless claims data continues to refuse to show anything but an extremely strong labor market, with initial claims at 190k last week (better than the 195k expected) and continuing claims at 1.655mm (below the 1.669mm expected)

Source: Bloomberg

Kentucky and California saw the biggest drop in claims while Massachusetts and Rhode Island saw the largest rise…

The total number of Americans on some form of unemployment benefits continues to hover around one-year highs…

Source: Bloomberg

More problematically for Powell and his pals, unit labor costs for Q4 (final) printed +3.2% QoQ (double the expected 1.6% rise), up for the 7th quarter in a row.

Source: Bloomberg

We’re gonna need a bigger rate-hike!

This post was originally published on this site

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

159,024FansLike
403,779FollowersFollow
2,180SubscribersSubscribe

Latest Articles

Load more

Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Contact us: admin@philstockworld.com

© Copyright - PSW, LLC. 2022

0
Would love your thoughts, please comment.x
()
x