Let's Stop And Appreciate This Level Of Jobless Claims

Let's just stop for a moment, and appreciate what's happening in the world of layoffs these days.

Here's a chart of the four-week moving average of initial weekly jobless claims divided by the total employment level.

There are very few job cuts these days. We're close to the best levels of the last two booms, and far better than even the best spot of the previous few decades. While the pace of job creation could still be better, the pace of job elimination is astounding.