DOGE Impact Accelerates As ‘Deep TriState’ Jobless Claims Hit 4 Year High

The number of Americans filing for jobless benefits for the first time rose very modestly last week (from 219k to 226k) but remains basically unchanged for the last four years…

Continuing Claims jumped last week to its highest since Nov 2021…

But, the ‘Deep TriState’ region sees the trend of continuing claims keep rising (at its highest since Dec 2021)…

Source: Bloomberg

Of course, comparing initial jobless claims to the BLS’ payrolls print is ‘interesting’…

Source: Bloomberg

But if we zoom in, the relationship is tighter, BUT claims data suggests we will see significant UPWARD revisions for payrolls soon… that will be awkward for some!

Source: Bloomberg

The labor market data remains a ‘choose your own adventure’ playground for data-miners.