Look at it this way, and initial jobless claims are at an all-time low

Earlier I mentioned that the 4-week moving average of weekly claims was the lowest since April 2000. And if the average falls just a little further, the average will be the lowest in over 40 years.

Of course that doesn't take into account the size of the labor force.

The following graph shows the 4-week moving average of weekly claims since 1967 as a percent of the labor force.

As a percent of the labor force, weekly claims are at an all time record low.

Note: There is a general downward slope to weekly claims - interrupted by periods of recession. The downward slope is probably related to changes in hiring practices - such as background checks and drug tests, and maybe better planning.

More from Calculated Risk:

• Weekly Initial Unemployment Claims as a Percent of Labor Force
• CoStar: Commercial Real Estate prices increased in March
• Research: "How Low Can House Prices Go?"
• Weekly Initial Unemployment Claims decreased to 264,000, Lowest 4-Week average in 15 years
• Thursday: Unemployment Claims, PPI

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