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Initial Jobless Claims Near Lowest Since 1973, But Hours Worked YoY Shrinks By Most Since Great Recession

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

This is like one of those “good news, bad news” jokes.

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Follow the money. Find the profits! 

First, the good news.

Initial jobless claims fell to 234K as of the week of February 4th, beating expectations of 249K.

eccal

This is near the lowest level since 1973.

jobclaims

Now for the bad news.

As of Q4 2016, average weekly hours YoY fell by the most since 2008 during The Great Recession.

hoursworekerd

So, a near record initial jobless claims report, but lower HOURS worked.

Its as if the US economy has morphed into an Andy Dwyer economy — all low paying part-time jobs.

Andy and the possum

Andy and the possum

 

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  1 comment for “Initial Jobless Claims Near Lowest Since 1973, But Hours Worked YoY Shrinks By Most Since Great Recession

  1. Kapricorn4
    February 10, 2017 at 11:13 am

    We should also consider that the US population increases by one million people per year due to live births minus deaths and immigration. A more realistic evaluation would be hours worked per capita.

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