The U.S. jobs market has a “slow leak,” as reflected in the latest weekly data on initial jobless claims, according to Renaissance Macro Research. “The slow leaking higher of unemployment continues,” Neil Dutta,

Initial claims increased by 6,000 to 223,000 last week. New applications have hovered near their pre-pandemic averages, a sign of a healthy labor market. But the rise in recurring claims suggests more unemployed people are having a tougher time finding a new job.