Initial jobless claims tumbled last week from 242k to 227k as the impact of Hurricane Helene starts to fade from the benefits rolls...

Source: Bloomberg

However, Hurricane Milton's impact on Florida claims remains...

Source: Bloomberg

However, continuing jobless claims rose to 1.897 million Americans - the highest since Nov 2021...

Source: Bloomberg

So, take your pick! Cut rates because of soaring continuing claims... or 'hold' as initial claims revert back towards multi-year lows?