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How to Read This Pair

A short summary of how this signal tended to show up before recessions and where it stands now.

Takeaway

When at least 2 of these 2 signals are on together, it has tended to show up before recessions, but it is off now.

Before past recessions

Ahead of the Lehman recession, this signal turned on in 2007-11, 1 months before the recession started. There were no extra triggers in the prior 36 months. Components: Continuing claims z-score above 1.5 / Housing starts below -10% y/y. It picked up 4 of the last 8 US recessions. After the composite turned on, recession followed within 12 months 67% of the time, with a median lead of 2 months.

Current state

0 of 2 component signals are currently active.

Comparison Chart

United States / Continuing Jobless Claims 1967-01-07 - 2026-03-14 / 3089 obs / Weekly / Release lag 13d

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