Government Shutdown Sent Initial Jobless Claims Exploding Higher

Initial jobless claims exploded higher by 53,000 last week to 253,000 - the highest since Sept 2017 (from the lowest in 50 years).

This is the biggest weekly spike since the Hurricane season chaos of September 2017 (Harvey, Irma, Jose, and Maria)...

 

Presumably most if not all of this surge will be erased over the nest week or two as the shutdown is now over.