After last week’s tumble to 280k, initial jobless claims rose modestly this week to 293k (slightly better than expected) but remain near a dovish-Yellen-crushing 14-year low. Continuing claims also remain at cycle lows around 2.4 million (rising modestly – by 7k – this week). The labor department cites no unusual or estimated claims this week. It appears this is as good as it gets and the Fed has reached its ‘job-creating’ mirage peak…
As good as it gets…