Jobless claims just fell to 189,000, the lowest level since 1969. You have to go back 57 years to find a better number. We’re now filing fewer unemployment claims in a normal week than we did in the single best week of 2019, before the pandemic.<\/p>\n
The four-week average is down more than 13% from a year ago. People are working. The firing has basically stopped.<\/p>\n
And groceries? Food inflation is running at 1.8%, below the 20-year average of 2.6%. Your grocery bill is climbing slower than it normally does.<\/p>\n
So the labor market is the strongest in half a century and food is calmer than the 20-year norm.<\/p>\n
And on Tuesday, voters turned around and punished the party in charge over the economy.<\/p>\n
It’s odd. You can put up the best jobs numbers since 1969 and still lose the room.<\/p>\n
BILL MITCHELL<\/p>\n","protected":false},"excerpt":{"rendered":"
Jobless claims just fell to 189,000, the lowest level since 1969. You have to go back 57 years to find a better number. We’re now filing fewer unemployment claims in a normal week than we did in the single best … Continue reading