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Jefferies: Initial Claims Data Does Not Show Rapid Deterioration in Labor Market
Summary: According to sources, Jefferies economist Thomas Simons stated in a report that initial claims data does not indicate a rapid weakening in the labor market. The lateral fluctuations in initial and continuing claims in recent months suggest limited layoff activity. The 'no hiring/no firing' characteristic of the labor market remains strong. The latest unemployment claims ...
According to sources, Jefferies economist Thomas Simons stated in a report that initial claims data does not indicate a rapid weakening in the labor market. The lateral fluctuations in initial and continuing claims in recent months suggest limited layoff activity. The 'no hiring/no firing' characteristic of the labor market remains strong. The latest unemployment claims data corresponds to the reference week for the August nonfarm payroll report, which will be released in early September. Simons noted that since the reference week in July, initial claims have increased by 14,000, but the four-week moving average has decreased by about 5,000.
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Link: Jefferies: Initial Claims Data Does Not Show Rapid Deterioration in Labor Market [Copy]
