The Labor Department reported that <strong>initial jobless claims</strong> declined last week to its lowest level since September. The report highlights the persistently tight labor market where businesses are reluctant to lay off workers despite a highly anticipated economic slowdown. Some analysts noted the extreme winter weather in parts of the country that made seasonal adjustments problematic. Claims in regular state programs declined 15,000 to 190,000 for the week ending January 14th, after reporting 205,000 initial claims the prior week. The four-week moving average dropped to 206,000 from 212,500 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, increased by 17,000 to 1.647 million for the week ending January 7th.

Stephens is hosting an in-person field trip for institutional investors to meet with the following companies. We will be providing transportation via Stephens corporate plane beginning in Richmond, VA and ending in Dallas, TX. • Arcosa, Inc. (ACA) • Luck Stone (private) • Martin Marietta Materials (MLM) • Summit Materials, Inc. (SUM) • Vulcan Materials Company (VMC)

The Labor Department reported that <strong>initial jobless claims</strong> declined again last week, showing the incredible resilience in the labor market. The labor market has yet to cool in a convincing way, forcing the Fed to keep rates higher for longer. Claims in regular state programs declined 1,000 to 205,000 for the week ending January 7th, after reporting 206,000 initial claims the prior week. The four-week moving average dropped to 212,500 from 214,250 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, decreased by 63,000 to 1.634 million for the week ending December 31st.