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Since 1969: US Jobless Claims Average Nears Milestone
Another week, another rock-bottom -- which is to say completely benign -- read on US jobless claims.
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Fun fact: in 1969, the labor force was about 80 million people. Today it’s around 171 million, making the < 200,000 initial claims that much more remarkable.
When you have to have two or three jobs and they all are ‘freelance’ and gig work, it’s hard to apply for unemployment.
+1 I’ve had the same suspicions. Again, the largest economy is lacking data needed to make better informed decisions. Just too many darts being thrown blindfolded at the target.
Our Dear Leader has agreed that these economic forecasts are laughable:
“New jobs data from the Trump administration showed unemployment benefit claims remaining steady, coming in at 200,000. Those numbers were significantly below the median forecast in a Bloomberg survey of economists, which called for 209,000.”