It's Friday, so it is time for the Avory Chart of the Week!
This week I am going with a fascinating (to me at least) chart we made relating to jobs. Enjoy!
Jobs added to an economy is a significant indicator to measure economic health. However, in our view, the weekly jobless claims report is more important given it acts as a reliable leading indicator for the economy. So this week we wanted to highlight the streak taking place in initial jobless claims. Make that 170 straight weeks of initial jobless claims below 300k. The streak originally started in March 2015. This is the longest uninterrupted streak since the 161-week stretch ending April 1970. The Initial jobless claims report measures the total amount of individuals filing for unemployment benefits. A reading below 300,000 is typically viewed as healthy for the economy. We remain in unprecedented times, and here's just another data point you can share at cocktail parties.
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Sean D. Emory
Avory & Co. Founder & Chief Investment Officer
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