US jobless claims just hit their lowest level since summer 1969.
Yes, you read that right. 1969.
That's over 50 years of data. We're at multi-generational lows in people filing for unemployment benefits.
What does this tell us?
The labor market is still extremely tight. Companies aren't laying people off. If anything, they're still trying to hold onto workers.
This matters for a few reasons:
1. Strong labor market = consumers still have income = spending power remains intact
2. Fed watches this closely. Tight labor = potential wage pressure = inflation risk
3. Recessions don't typically start when jobless claims are at 55-year lows
Now, does this mean we're bulletproof? No. Things can turn quickly. But right now, the employment picture is about as strong as it gets historically.
The Bryan Adams reference is chef's kiss, by the way. If you don't get it, ask someone over 40.
Yes, you read that right. 1969.
That's over 50 years of data. We're at multi-generational lows in people filing for unemployment benefits.
What does this tell us?
The labor market is still extremely tight. Companies aren't laying people off. If anything, they're still trying to hold onto workers.
This matters for a few reasons:
1. Strong labor market = consumers still have income = spending power remains intact
2. Fed watches this closely. Tight labor = potential wage pressure = inflation risk
3. Recessions don't typically start when jobless claims are at 55-year lows
Now, does this mean we're bulletproof? No. Things can turn quickly. But right now, the employment picture is about as strong as it gets historically.
The Bryan Adams reference is chef's kiss, by the way. If you don't get it, ask someone over 40.
