The weekly US initial jobless claims in continuing claims for the current week shows:
- initial jobless claims 190K versus 195K estimate. Prior week 192K
- 4-week moving average of initial jobless claims 193K versus 191.25K previously
- continuing claims 1.655M versus 1.665 million estimate. Prior week revised to 1.660M versus 1.654M previously reported
Like a broken record, the employment situation remains a potential inflationary issue. Not only did the initial claims move lower but the unit labor costs are much stronger than expectations and productivity was revised sharply lower.
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