It's a bit boring - I know - but every week we examine the latest entrails of data on California new weekly claims for unemployment insurance for signs of a recession. And every week, we don't see those signs. In the labor market, things are pretty much as they were in the pre-pandemic boom period. The latest data for the week through Jan. 28 continue to tell that story.
As always, the latest claims data are at https://www.dol.gov/ui/data.pdf.
A recent Ohman cartoon says it all:
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