Continuing Jobless Claims Surge Most Since 2009 As Initial Claims Hit 6-Month Highs

Something has changed! After years of consistent down-trend in initial jobless claims, the regime has change since mid-October to an uptrend. This past week saw claims rise 7k to 284k leaving the less-noisy 4-week average at 279k – its highest since early July 2015. Continuing claims also rose to 5 months highs (up over 4% in the last 3 months – the most since June 2009).

This is the largest 3month rise since the end of 2013… (before QE3 was unleashed)