U.S. Initial Jobless Claims Surge to 885,000

The video discusses recent economic indicators, highlighting a rise in unemployment claims to 885,000, suggesting a slowing economy. Housing starts increased by 1.2%, indicating a strong housing market. However, the Philadelphia Fed index dropped significantly, with employment numbers falling from 27.2 to 8.5, signaling potential economic challenges.

What was the seasonally adjusted annual rate for housing starts?

What was the forecast for the Philadelphia Fed index drop?