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Continued Labor Market Resilience In Jobless Claims

US DATA
  • Initial claims registered another lower-than-expected 192k (cons 200k) in the week to Feb 18 after 195k, which has seen the 4-week average stabilise at a low ~190k vs the 2019 average of 218k and single week low of 173k.
  • The claims data continue to point to a resilient labor market, tying in well with MNI’s Interview with Atlanta Fed economist Willis yesterday on labor demand potentially being less sensitive to higher interest rates (see here).


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