Jobless Claims Unexpectedly Rose Last Week Led By Surge In New York

After hovering around 200k for a few weeks, last week saw initial jobless claims jump to 207k (195k exp) – one month highs.

Source: Bloomberg

Rather notably, the non-seasonally-adjusted claims data jumped to 315.5k – the biggest weekly jump since August.

New York and Pennsylvania saw the biggest increase in claims…

Continuing claims data also picked up but the total number of Americans on some form of government dole dropped to 1.722mm last week…

That is the lowest since pre-COVID-lockdowns.