Initial claims today show a massive decline and staying low — good for US markets.

Initial claims dropped from 222,000 to 211,000 in the week ending April 6th, coming in slightly better than expected.

This decline essentially erased the uptick reported for the previous week, and despite some volatility in the weekly readings, the level of jobless claims filings has remained low recently, suggesting a strongest labor market in labor history — where inflation has been trending down with the highest rates on record without causing a mess in the labor market.

Continuing claims filings did edge up in today’s report (rising from 1.789 million to 1.817 million during the week ending March 30th), but these filings have also generally remained low lately — meaning no rate cuts and more people are going to find hard time finding jobs from now on out — if not losing their jobs & houses

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