Jobless Claims in the U.S. Decline to the Lowest Level in 4 Decades

The view of Austrian-lites that we are in a recession has been destroyed by reality once again.

The fewest Americans since 1973 filed for unemployment benefits last week.

Jobless claims dropped by 19,000 to 235,000 in the week ended Nov. 12.

The four-week average of claims, a less-volatile measure than the weekly figure, declined to 253,500 from 260,000 in the prior week.

 -RW