Initial claims were up 1,000 to 220,000 and continue to not be a concern. Continuing claims on the week dropped below the 4-week moving average which was good to see. Challenger reported 45515 job cuts in November. That’s up from 36,836 last month but down from 76,835 las November. To date in 2023, there have been 686,860 announced cuts. We would be concerned if this number creeps toward 1,000,000. Total jobs created in the last 12 months is at healthy levels but falling. More By This Author:Macro: GDPNow – 1.3%Macro: ADP EmploymentMacro: Durable Goods