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No Sign Of Labour Market Deterioration In Initial Claims

US DATA
  • Initial jobless claims were close to expectations in the week to Oct 22 at 217k (220k expected) after 214k the week prior.
  • They remain historically low, very low close to the 2019 average, maintaining the strong level seen last week in a good sign for next week's payrolls report.
  • That's in contrast to recent deterioration in the perception of jobs being plentiful, with the resilience in claims likely capturing the relatively little change in the perception of jobs being hard to get.

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