Thursday, October 6, 2016

Jobless Claims Near Four-Decade Low

Filings for U.S. unemployment benefits fell last week to the second-lowest level since 1973.

Jobless claims dropped by 5,000 to 249,000 in the week ended Oct. 1, according to the Labor Department.

Filings were just  above the four-decade low of 248,000 from April.

This is nothing close to what a recession looks like. The idea that the Fed is going to reverse its December 2015 rate cut, as Austrian-lites have forecasted, is absurd.



  1. Kick and scream all you want, Wenzel. "The FED must raise rates!!!" They have too...they must they promised!! -RW

    Now after you finish pouting in the corner, could you be so kind and let us know how many times did they raise rates this year? We Asutrian-lites forget.

    You see there's a disconnect between what you think and how the FED acts, and that's something you can't or don't want to absorb through your thick skull.

    The FED maybe...that's a big maybe, might raise the rates in December. And if they do, it will not based on some threshold you created in your own mind. They will do that based upon the political winds. That's the hard part for you, Wenzel but you're too much of a blowhard to accept that. Go ahead and don't post this. I know I triggered you.

  2. Of course jobless claims are going to be low. In order to fire someone, they need to be hired first. With the very weak job creation (look at the labor force participation rate) there are a lot less people to fire than there were in 2008.

  3. If they do raise them in december that'll be the last time they do so.

  4. You guys are making my points for me. In this whole forest of economic data, RW sees one tree. We are in recession NOW !!!!

    1. no there are some parts of the economy that are in recession that have never recovered from 09 and other that are booming because of the massive injections of cheap capital on offer from the Fed. if they raise rates, it will be in the new year when everybody is safety elected and Hillary claus can hand out the presents.

    2. Heath, what parts of the economy do you believe are booming and what specific economic data support this belief? BTW, high stock and real estate prices are not necessarily results of a booming economy in case that is the direction you are going.