Initial Jobless claims have hovered at near-42-year lows for much of the last year, despite day after day of new "job cuts" headlines - from energy to materials to tech unicorns. This week was no change with claims at 265k - dropping from last week's orighinal 268k print but rising from a revised 258k. To all of this exuberance we have just one question - explain this!!
And we know manufacturing jobs are collapsing?