The Steadily Improving Initial Claims Situation

Now that FRED’s got the latest numbers, I can make my point about today’s announced plunge in initial unemployment claims namely that in proper perspective this is just part of a trend that’s been happening for a while. Above is a chart of the change in initial claims from a year ago, and you see the number’s been negative pretty consistently since 2010 and there’s been no appreciable change in the rate of improvement in a long while.