High-Frequency Post-Virus Recovery - 2023-11-01

Misses in new and existing claims, but at ridiculously low numbers that don't change the ultra-low claims-implied unemployment rate one bit. All the data isn't in, but based on this and other labor market statistics for October, tomorrow's payroll report should slightly miss expectations for 180,000. But don't be too disappointed. That's still twice the number of Americans who organically enter work eligibility each month.