Initial unemployment claims were unchanged at 262,000, while the less volatile 4-wek moving increased by 9250 to 246,750, the highest level since November 2021, and continuing claims rose by 20K to 1.78 million.
So it looks like people are taking more time to find jobs, and that the economy is slowing.
Of course, Fed Chair Jerome Powell is strongly hinting that he will raise rates again in July,
I still think that we are headed for a recession, sooner rather than later.
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A member of the Democratic wing of the Democratic party, and a fan of Bernie who thinks Neoliberal (DLC/New Dem) trickle down conomics sucks.Mechanical Engineer with a background in defense, electronics packaging, medical & food equipment, transportation, and manufacturing.
In my spare time (Hah!), I am the developer of the Firefox addon, bbCode for Web Extensions (bbCodeWebEx).
I have two cats, a black cat, and a gray and white long hair cat, who keep me on my toes. (Because he keeps attacking my feet)
I am a Jew and a Zionist, who is married to a woman with exquisitely bad taste in men, and I have two remarkable children with her.
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