'Deep TriState' Layoffs Leave Continuing Jobless Claims 'Stuck' At Highest Since 2021

The number of Americans filing for jobless benefits for the first time tumbled to 217k last week - the lowest in three months and unchanged since Dec 2021...

Source: Bloomberg

New York State dominated the decline in initial jobless claims...

Continuing Claims holds above 1.9 million Americans for the 9th week in a row...

Source: Bloomberg

And on the ongoing jobless claims are centered on the 'Deep Tristate' region with the highest level of ongoing claims since Dec 2021...

Source: Bloomberg

DOGE is quietly working behind the scenes...