Let’s talk about labor!
Stagnant Jobless Claims Suggest Softening Labor Market
- Both initial and continuing jobless claims were unchanged from the previous week, at 230K and 1702K, respectively.
- The data indicate that the moderate strength of labor conditions evident in the second half of 2022 has subsided, with the labor market showing slight weakness in recent months.
Source: Helios Quantitative Research, Bloomberg, Department of Labor