Jobless claims just fell to 196,000, much better than expected.
Continuing claims also dropped to 1.73 million, their lowest level in more than two years.
Sounds like an incredibly strong job market, right?
Not necessarily.
Jobless claims measure people filing for unemployment benefits. They DON'T tell us how easy it is to find another job.
That's the strange part of today's labor market:
LOW layoffs don't necessarily mean HIGH hiring.
And after yesterday's Fed rate hike, these numbers matter even more.
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Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #JoblessClaims #Jobs #Economy #FederalReserve #LaborMarket