Here's another punch in the face of Austrian-lites who believe the boom-bust business cycle is actually only a bust cycle.
The number of out-of-work people collecting unemployment checks fell to a 17-year low in April.
The last time state unemployment offices sent out fewer checks to jobless Americans was in April 2000, the government reports.
This is not what a recession looks like. The Fed is not going to reverse its recent interest rate hikes. It is not going to go to negative interest rates anytime soon, something many Austrian-lites claimed would occur after the first rate hike in the current series of rate hikes!
-RW
"The number of out-of-work people collecting unemployment checks fell to a 17-year low in April."
ReplyDeleteThat's because you can only collect unemployment for a certain period of time before you're cut off. I think 1 year is the limit IIRC.