Initial jobless claims fell 11k (on an adjusted basis) to 264k last week – hovering near its lowest level since 1973 as firms hoard labor leaving The Fed stuck between an “everything looks awesome” rock and a “well we have to admit all these indicators are bullshit” hard place…
Seasonally adjusted…
And non-seasonally adjusted… officially the lowest level since 1973…
Seems like the ZIRP Emergency Is Over!!
Charts: Bloomberg
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