Unquestionably, the most bullish ongoing trend in the economy right now is the ongoing downward grind in the initial jobless claims.
There’s plenty to be worried about, obviously, but it’s really hard to make any argument that things are getting worse, when this measure keeps getting better, week in and week out.
After today’s sub-400K number, here’s the latest look at the 4-week moving average of initial claims.
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