The number of U.S. workers who applied for new unemployment benefits declined last week to the lowest level in 43 years, a sign of the labor market’s vitality.
Initial claims for jobless benefits, a proxy for layoffs across the U.S. economy, fell by 6,000 to a seasonally adjusted 247,000 in the week ended April 16, said the Labor Department today. That was the lowest level for jobless claims since the week of Nov. 24, 1973.
Last week also marked the 59th straight week that initial jobless claims remained below 300,000, extending the longest streak below that threshold since 1973.
I have I mentioned we are in the boom phase of the Fed-created boom-bust business cycle.
This is not what a recession looks like. Reality denying Austrian-lites who think we are in a recsiion, your gender-neutral bathrooms are to the left.