The number of Americans filing new applications for unemployment benefits declined last week.
Initial claims for unemployment benefits, a proxy for layoffs across the U.S., decreased by 4,000 to a seasonally adjusted 262,000 in the week ended Aug. 13, according to the Labor Department.
It was the 76th consecutive week that claims remained below 300,000, the longest such streak since 1970—when the U.S. workforce and population were far smaller.
This is not what a recession looks like. Austrian-lites please take another delusion pill.