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.
More from Calculated Risk:
- Weekly Initial Unemployment Claims as a Per cent of Labour Force
- CoStar: Commercial Real Estate prices increased in March
- Research: “How Low Can House Prices Go?”
- Weekly Initial Unemployment Claims decreased to 264,000, Lowest 4-Week average in 15 years
- Thursday: Unemployment Claims, PPI