Lousy Economy, But Great Job Security

by: Calafia Beach Pundit

The economy is still in the midst of its weakest recovery ever. But the news is not all bad: the chances of a worker being fired today are lower than at any time in the past 50 years.

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As the chart above shows, the 4-week moving average of initial claims for unemployment has fallen to its lowest level since 1973.

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As a percent of the workforce, initial claims are the lowest they have been since records were first kept in 1967. In the past 4 weeks, initial claims dipped to a mere 0.18% of the 143.6 million people working.