Initial Jobless Claims Surge To 12-Month Highs

The number of Americans filing for jobless benefits for the first time rose to 249k last week – the highest since last August…

Source: Bloomberg

Texas claims continue to fall as the storm-related surge normalizes…

Source: Bloomberg

Additionally, the number of Americans continuing to claim unemployment benefits rose to 1.877 million last week – the highest since Nov 2021…

Source: Bloomberg

Is this ‘bad’ enough news to lock in September rate cuts?