Look at it this way, and initial jobless claims are at an all-time low

Earlier I mentioned that the 4-week moving average of weekly claims was the lowest since April 2000. And if the average falls just a little further, the average will be the lowest in over 40 years.

Of course that doesn’t take into account the size of the labour force.

The following graph shows the 4-week moving average of weekly claims since 1967 as a per cent of the labour force.

As a per cent of the labour force, weekly claims are at an all time record low.

Note: There is a general downward slope to weekly claims – interrupted by periods of recession. The downward slope is probably related to changes in hiring practices – such as background checks and drug tests, and maybe better planning.

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