Have US Jobless Claims Truly Inflected?

The uptick in US jobless claims appears to be the real deal this time, even if it's not a big deal just yet. Initial claims were elevated for a third consecutive week, Thursday's update showed. At 264,000, claims were unchanged again (from an upwardly revised prior week). They were also ahead of consensus, which was looking for 259,000. The four-week moving average is now up to 255,750, the highest since November of 2021. Unadjusted claims fell slightly, to 250,000. Continuing claims were s