Thursday, April 30, 2015

The Last Time Initial Jobless Claims Were This Low Was The Peak Of The Dot-Com Bubble (Zerohedge.com)

 

 

Submitted by Tyler Durden on 04/30/2015 08:43 -0400

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Initial jobless claims have been worse than expected for the last 2 weeks but remained below the magical 300k level, so it was only appropriate that this week all the great economic news of late - record plunge in US macro disappointments and a dismal 0.2% GDP print - would be met with the lowest claims print in 15 years. At 262k (against a 290k expectation), initial claims has only been lower once - the week of April 14th 2000 - which just happened to mark the top of the Dot-Com bubble. While this is great news, we do note that a rolling average of Texas Jobless claims shows the improving trend has stalled.

Outlier or new trend?

But a rolling average of Texas Jobless claims shows the improving trend has stalled...

Perhaps most worrying is this... the last time we were this low - only once in history, marked the week of the top of the DotCom bubble in 2000....

Charts: Bloomberg

1 comment:

Wayne Pratt said...

I've been following your analyses of late, and I think you are probably right. Other than 'quantitative easing' and the fact that people just about have to invest in the stock market to get any return at all, I have been at a loss as to why the market is booming. It makes no sense. Wish there were more cheerful news but it is what it is.