Jobless Claims Ramp - The "Trend" Moves Higher

US weekly jobless claims came in at 406,000 this week, up from last week's revised print of 372,000. Both the absolute level of claims and the 4 week average re-assert the concerning "Trend" of a deteriorating US employment picture.

Inflation is dampening, but so is US economic growth. That dynamic needs to be understood.
KM