The top chart shows weekly initial claims and the 4-week average of claims and places the latest reading into a 20 year historical perspective. Claims are currently at levels associated with the mid-point of an economic expansion. The bottom chart shows a five year history of claims and demonstrates a clear downward trend which appears to be stabilizing around the 350,000 area.
Secondly, temporary services are at very high levels and are in a clear upward trend.
In short, the leading indicators for employment are very positive.
