Texas Sparks Unexpected Surge In Jobless Claims To Highest In 4 Years

Time’s Up!

After four years of showing no signs of life, initial jobless claims surged higher last week with 263,000 American filing for jobless benefits for the first time – the most since Oct 2021…

Source: Bloomberg

Under the hood, Texas massively dominated the surge in jobless claims last week (we are struggling to figure out why)…

Continuing claims remain above 1.9 million Americans – also the highest in four years…

Source: Bloomberg

…get back to work Mr.Powell!