Initial Jobless Claims lowest since April 15, 2000. I have no idea why the din continues to be “Woe is our economy!!” The history from FRED is below:http://research.stlouisfed.org/fred2/series/ICSA/downloaddata
Before April 15, 2000 the last time we were at these levels was December 1, 1975 as Initial Claims rose into a recession. Each time we saw declining Initial Claims we were well in an economic recovery as other economic data indicates we are today.
CNBC had one after another prognosticator issue statements concerning how poorly the economy was performing, One even said to expect an 8% correction by the ‘Sell in May’ crowd ($SPY). This data does not let one make short term predictions regardless what people say. It does help to understand the current trends in our economy which have been quite positive since they peaked March 2009 with a 665,000 reading.