06 June 2024

It's Thursday ¯\_(ツ)_/¯

It's Thursday, which means that it's time for the weekly unemployment data, and initial claims rose by 8,000 to 229,000, while continuing claims rose slightly by 2,000 hitting 1.792 million.

More notably, job openings, and the ratio of jobs to job seekers hit a post-pandemic low.

At the same time, layoffs dropped.

I still think that a recession is due sooner rather than later, but the data is inconclusive in either direction.


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