This Trend Is Not Your Friend - Initial Jobless Claims Average Surges To 10-Month Highs

Having surged to six-month highs, initial jobless claims dropped modestly on the week but the smoother 4-week average that is broadly used pushed to new cycle highs at 285k - the highest since March 2015 confirming The Fed's concerns over the economy. This is a trend that is certainly not the friend of Janet and her friends... but we are sure this is all just transitory.

 

 

Charts: Bloomberg