Initial Jobless Claims Spike To 6-Month Highs - Biggest Annual Rise Since May

For the first time since May, initial jobless claims are now higher year-over-year (surging to 275k last week - the highest since June).

Notice the "odd" plunge in claims into the election... anything to maintain confidence...

 

While the trend is notably bad post election, we do note that this is the 94th consecutive week with claims below 300,000 - the longest streak since 1969...

 

Question is - what happens next? Recession?

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