Initial jobless claims for the week ending August 12 decreased by 11,000 to 239,000 (consensus 240,000) and continuing jobless claims for the week ending August 5 increased by 32,000 to 1.716 million.
The key takeaway from the report is that initial jobless claims — a leading indicator — are pacing at levels that are indicative of a tight labor market, which is indicative of an economy that isn’t pacing for a hard landing.
