The charts above show the gradual, but ongoing improvements in the US labor market, based on the decline in initial claims for unemployment insurance. The Department of Labor reported today that the four-week moving average of initial jobless claims fell to 350,500 for the week ending last Saturday, which is the lowest level since early March 2008, almost five years ago (see top chart). The bottom chart displays initial jobless claims adjusted for the size of the US labor market, and shows jobless claims as a share of total US employment. By that measure, jobless claims in January were 0.249% of total civlian employment, which is the lowest level since March 2008, providing further confirmation of a gradually improving job market. At the current rates of decline, both measures of initial jobless claims should be back to pre-recession 2007 levels within the next several months.
Also of Interest
Gas tax on mileage shatters right to privacy
Shifting to a Vehicle Miles Traveled tax system serves neither the interests of good government nor the interests of personal privacy.Read more here: http://www.kansascity.com/2013/05/02/4213891/gas-tax-on-mileage-shatters-right.html#storylink=cpy
Bidens are becoming more charitable over time – they used to give less to charity than Americans making less than $5,000
The Obamas and the Bidens released their 2012 tax returns on the White House blog today.Now that Biden’s tax returns are coming under public scrutiny, he and Dr. Jill Biden seem to be feeling a bit more charitable than the former, rather uncharitable Senator Joe Biden, whose tax returns probably received little attention, if they were even released at all.
America's oil and gas revolution
To grasp the importance of the revolutionary change in oil and gas drilling sweeping across the United States -- and its significance for our economy -- just consider how far behind the rest of the world is lagging.