After jumping to the highest since October, initial jobless claims were expected to drop last week and did so, falling to 260k (from a revised higher 290k the previous week). Non-seasonally adjusted claims crashed back down as perhaps signs of Omicron anxiety are fading.
Source: Bloomberg
This is the first improvement in jobless claims since the start of the year.
All except two states registered declines in unadjusted claims, with Pennsylvania, New York, and New Jersey posting the biggest decreases.
The total number of Americans on some form of government dole continues to hover around pre-COVID-lockdown levels…
Source: Bloomberg
Is this as good as it gets? For Main Street and Wall Street?
Source: Bloomberg
Or will Powell fold again?
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