Continuing Jobless Claims Rise At Fastest Pace Since July 2013

While initial claims collapsed 11k to 260k, practically cycle lows and the hovering at the lowest level since 1973. But in continuing claims, something is different. The last 4 weeks have seen continuing claims rise 2.85% - the fastest pace of increase since July 2013. Of course, none of that matters with a Fed set on hiking rates no matter what, but it is seasonally aberrant to see a surge of this scale this time of year.

Once again a significant turn in trend...

 

Which is notably out of line with seasonal trends...


Charts: bloomberg