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197,000 jobless claims last week. Under 200,000 AGAIN. That number is holding this whole market up. I call it layoff absorption. ✅ New jobless claims: 197,000. Wall Street expected 200,000. ➡️ We all know the AI layoffs are happening. So where the heck do those people go? ➡️ Right now they get absorbed. The companies booming with AI are still hiring, because revenue is growing faster than they can automate. 😇 The jobs canary is still good. ➡️ Here's the part nobody wants to say out loud: revenue can keep climbing AFTER the hiring stops. 😇 At some point you don't actually have to add proportionately more employees. ➡️ That's the day absorption ends. Layoffs keep coming and nobody is on the other side to catch them. Yikes. 😇 We don't know when that point is going to happen yet. ➡️ It's why one weekly claims number matters more to me than any AI headline. 🚨 The risk: this kind of thing breaks slowly, then all at once. When a canary stops singing, this changes FAST. ➡️ Bottom line: watch the jobs canary. Everything else is noise.