Initial jobless claims in normal expansionary range

- by New Deal democrat

For the second week in a row, initial jobless claims were under 330,000, at 323,000. Furthermore, the 4 week average, at 336,750, is only 750 above what I consider a population-adjusted normal expansionary range. The 4 week average is also the lowest since November 2007, before the onset of the great recession.

Should next week's number be below 350,000, that ought to be enough to move the 4 week average under 336,000.

If Atrios calls this "good news," I think we are officially there.