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Competing Claims
Initial US jobless claims slipped below 220,000 for the first time in a month, Thursday's update showed.
At just 219,000 for the week to December 21, the headline filers print undershot consensus. The prior week's readout, covering the NFP survey period, was unchanged at 220,000.
Obviously, these subdued readings argue for the "strong labor market" narrative, and against sparse recession banter.
The four-week moving average moved higher, as it's still capturing a spike to 242,000 the week a
