Jobless Claims Plunge by 20,000 to 201,000, Challenging Fed’s View of Labor Market as Softening

[mystery-ak]

Jobless Claims Plunge by 20,000 to 201,000, Challenging Fed’s View of Labor Market as Softening

John Carney 21 Sep 2023

Applications for unemployment benefits in the U.S. fell to the lowest level since January, a level so low that it challenges the notion that supply and demand conditions in the labor market were reaching a better balance.

Initial jobless claims dropped by 20,000 to 201,000 in the week that ended on Wednesday, September 16, the Labor Department said Thursday.

Claims have fallen in five out of the last six weeks, indicating that employers are keeping workers on payrolls as consumer demand has held up much better than expected and the economy appears to be growing at the fastest pace of the year.

more
https://www.breitbart.com/economy/2023/09/21/jobless-claims-plunge-by-20000-to-201000-challenging-feds-view-of-labor-market-as-softening/

[DefiantMassRINO]

The Fed wants to drive the economy off a cliff in time for Biden's 2024 re-election campaign.

What will be the next Black Swan event to precipitate deflationary contagion across multiple layers of counter-parties?

Earlier this year, banks were in trouble because the dropping mark-to-market value of 30 year Treasury Bonds was making them technically insolvent.

[Bigun]

So, 20,000 people either used up their benefits or simply quit looking for work. BFD!

[LMAO]

I have yet to run into any business that is not hurting for labor. And it isn’t just medical staff at the hospital.

It’s a common complaint I hear everywhere.