• Initial jobs claims totaled 251,000 for the week ended July 16, up 7,000 from the week before and above the 240,000 Dow Jones estimate.
• That was the highest weekly level since mid-November.
• Employment index was 19.4, a 9-point decline. Though that indicates continued expansion in hiring, it is the lowest reading since May 2021 and also is indicative that hiring is slowing.

Tagged: #Bidenflation