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Jobless Claims Fall, Philly Prices Spread Plunges To Most Negative Ever
The US labor market isn't cracking.
Initial jobless claims fell to 228,000 in the week to July 15, Thursday's update showed. That was 12,000 below consensus.
The range, from four-dozen economists, was 220,000 to 260,000.
The prior week was unrevised. Claims are now the lowest since mid-May. Actual, unadjusted claims fell slightly.
It's been six weeks since claims suddenly jumped to levels last seen in October of 2021. They loitered there for a spell before trending lower again. The spike w
The embrace of the “greed”-flation dynamic by corporate America virtually ensures that Powell and the FOMC will proceed with two rate hikes in 2H23.