Alternative jobless claims data show little change, some improvement

Group 1 - The initial jobless claims for the week of November 1st were reported at 228,000, indicating stability in the job market, although this figure is on the higher side compared to recent numbers [2][4] - Continuing claims decreased by 18,000 for the week of October 25th, but remain elevated at 31,000, the highest level since 2019, suggesting ongoing challenges in the labor market [2][5] - The data does not currently reflect the significant layoffs announced by major companies, which may lead to job losses over time but have not yet translated into increased jobless claims [4][5] Group 2 - The Federal jobless claims were reported at 7,500, down from 10,000 the previous week, indicating some improvement in federal employment [5] - The Federal Reserve's hawkish members are interpreting the low jobless claims as a sign of stabilization in the job market, which may influence their stance on inflation and interest rates [5][6] - There is speculation that the Federal Reserve may cut rates multiple times in upcoming meetings, with a 52% probability for December and a 73% probability for January [6]