LABOR MARKET: Continuing jobless claims plummet, hitting the lowest weekly level since April (1.838M cumulative).
Initial claims came in at 236K for the week, which is 16K above the 220K forecast. Last week’s surprisingly low report was revised up by only 1K to 192K. This week’s increase in initial claims isn't surprising as some delayed filings would've carried over from the holiday period.
The 4-week average shows that initial claims have declined considerably since the end of the third quarter. This trend points to positive momentum heading into 2026, when hiring is likely to strengthen.
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