Our weekly look at new California weekly claims for unemployment benefits does show an uptick in the week ended March 4th. So, maybe those tech layoffs are finally showing up in the data. But we're still in the pre-pandemic (boom) range and the weekly figures are noisy. On Wednesday of this week - March 15 - the UCLA Anderson Forecast will be meeting and we'll see what the Forecast has to say about the outlook - including the recent failure of the Silicon Valley Bank.
As always, the latest claims data are at https://www.dol.gov/ui/data.pdf.
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