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Lower Than Expected Claims, Helped By Ohio Stepping Lower

US DATA
  • Initial jobless claims were lower than expected in the week to Aug 19 at 230k (cons 240k) after a fractionally upward revised 240k (initial 239k).
  • The four-week average still ticked higher to 237k (+2k), off its recent low of 228k on Jul 28 but still below the recent peak of 257k from Jun 23.
  • Looking at the NSA data by state, a new player has entered the weekly distortion game, with Hawaii jumping from 1.7k to 5.4k in the week.
  • Ohio meanwhile leads the move lower, with a 5.9k decline after its recent unusually high levels compared to other states. For comparison, total NSA claims fell -15.4k to 198k.

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