Two Views of the Labor Market
Chart of the Week for November 29-December 5, 2002
Recent reports of declining initial jobless claims are grabbing headlines and may be playing a role in the current market rally. However, they don’t paint a complete picture of the labor market. Continuing claims, which measure the total number of workers collecting unemployment insurance, add perspective. The latest data show they are rising, meaning finding a job isn’t getting any easier. A downturn in these would truly signal improvement in the labor market and economy.
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