Everything must be peachy. Jobless claims are the lowest since April 2000 and just below the levels of 2007.
I’m racking my brain. What happened shortly after April 2000 and October 2007?
Anyone? Anyone? Bueller? Bueller?
Submitted by Tyler Durden on 10/16/2014 08:36 -0400
As we noted last week, when there is no hiring, there is no firing…
and so it is that initial jobless claims collapsed to 264k this week (versus 290k expectations) – the lowest since April 2000 (and 2nd lowest ever on record). That is not what the market wants to hear right now… it is craving bad news to get The Fed re-engaged. Continuing claims inched higher from 2.382 million to 2.389 million but remains near cycle lows.
To sum up: its never been better than this for employment… according to the government-supplied data. Unless you look at this…
Charts: Bloomberg
When everyone is unemployed, discouraged, not receiving unemployment benefits, and thus ‘not counted’ , then the unemployment rate will be 0%.