• Labor market has cooled in an orderly way
• Consumer balance sheets are ok
• Companies say labor market has softened a little, things look reasonably ok
• Took notice of layoff announcements but at same time unemployment insurance claims were stable

I haven’t seen any private sector economists tallying until initial jobless claims but there are Fed officials noting that state-level unemployment claims are still being published and they can synthesize initial jobless claims from those. Their comments are all like Musalem’s who say they’ve been stable.

Update: Evidently Goldman Sachs is crunching the weekly jobless claims numbers and highlights that they’re remaining rangebound.

This article was written by Adam Button at investinglive.com.



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