Once again, our weekly look at the latest new weekly California claims for unemployment benefits data reveals no departure from the pre-pandemic (boom) levels that have characterized the series for some time now. No sign of recession apparent from these data. Yes, there is no lack of uncertainty due to the Israel-Gaza War and where that might lead, the gridlock in Congress, and a kind of Jimmy Carter-ish malaise (Google it!) that seems to have descended on the electorate if polls are to be believed.
As always, the latest claims data are at https://www.dol.gov/ui/data.pdf.
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