Initial jobless claims printed 267k – slightly better than expected and very slightly less than last week – which is odd because both ISM Manufacturing and ISM Service employment data suggests a very different picture indeed.
Everyone knows the manufacturing industry is losing jobs…
But don’t worry, the Services economy is doing great and generating jobs, right?…
Oh wait!!
So if jobs are piss poor in the manufacturing industry based on management’s perspectives and just as bad in Services, then where is the government creating all these jobs from that is keeping initial jobless claims so low?
Charts: Bloomberg
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