- by New Deal democrat
Initial jobless claims declined 11,000 to 200,000 last week, continuing above the recent 50+ year low of 166,000 set in March. Meanwhile the 4 week average declined 500 to 206,500, compared with the all-time low of 170,500 set eight weeks ago. Meanwhile continuing claims declined 34,000 to yet another 50 year low of 1,309,000:
Initial claims have trended slightly higher over the past 2.5 months, indicating a little cooling in the white hot employment market, but no real trend change. The almost complete lack of layoffs, and the attendant “Great Resignation” in favor of jobs with higher pay remains the brightest spot in the entire economy.