Today, weekly jobless claims dropped by 6,000 to 216,000, lower than the expected 225,000, while the continuing unemployment claims increased 7,000 to 1.960 million. This means fewer Americans filed for unemployment benefits, which could point to a still low level of overall layoffs. But the increase in total claims suggests that the U.S. is not generating enough jobs right now to employ those already on benefits. In our employment data, we also see signs of mild recovery after this year's slump in new non-farm payrolls, and currently, the number of employed is rising again in September by 16,000 and in October by 62,000. This data is still nowhere near the BLS data, which claimed 119,000 more employed in September, and with the October data cancelled. The market is back to speculating on what this data means for the Fed and the infamous Dec 10 interest rate cuts during the FOMC meeting, a speculation that seemed to crash the markets last week. With the official 119,000 increase in non-farm payrolls in September and lower than expected unemployment claims, it gives a feeling that the labor market is not doing badly, while inflation, according to the BLS, is still at 3% for September, with October CPI cancelled due to a lack of data surveys collected for this period. Using our data, we know inflation is doing better, while jobs are worse than the BLS reports. It's also worth zooming out to see that the employment recovery is still quite low compared to previous years. We'd be very curious to see what the Federal Reserve concluded based on our data if they used it. For example, our core PCE (2.56%) is not as low as our core CPI (2.19%). What would you do if you were the Fed?