Initial Jobless Claims Rise Near 8-Month Highs, But…

Another week, another government-sponsored jobless claims print to mock.

According to the Department of Labor, 219,000 Americans filed for jobless benefits for the first time last week (up from 216,000 the prior week)…

Source: Bloomberg

Tennessee and Michigan saw the largest jump in claims while Pennsylvania and California saw the biggest declines…

Continuing claims was basically flat just below 1.8 million Americans…again… but we do note that the ‘trend’ for claims is up (4-week MA at 8 month highs)…

Source: Bloomberg

While WARNs and job cut announcements (not provided by the government) are notably elevated…

Source: Bloomberg

Is everyone who is getting laid off immediately being hired by NVDA?

Will this all be ‘revised’ higher after the election?