Initial Claims Say We're in Something Deeper than the Tech or Housing Bubbles
Initial Claims came in at +265K, making it over a year of Initial Claims below the psychologically important 300K threshold. In looking at comparable cycles, one has to go all the way back to the early 1970s to find a similar instance.
This isn't your typical tech bubble. Nor is it your typical housing bubble. This is something else.
Perhaps call it the
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