Sep 10
Each day comes new ways of showing me “it’s a big world”, or in this case, a big country. Here are 4 week moving averages of initial unemployment claims since 1971:
What you can see is that it never dips below a couple hundred thousand. So, now, with it averaging about 570,000 a week is among the highest recorded, but only a bit above twice the average now. And interestingly, Calculated Risk, where I got the chart says that initial claims will have to fall below 400,000 for us to equalize job loss with job growth.