![\"\"](\"https:\/\/lazardfreresgestion-tribune.com\/wp-content\/uploads\/2018\/04\/Capture-United-States-a-flashbak-to-the-1970s-weekly-claims-for-unemployement-benefits.png\")
<\/p>\nCHART OF THE WEEK<\/b><\/p>\n
Weekly unemployment claims have fallen to lows not seen since 1973. For the week beginning
\n19 March, just 215,000 people claimed unemployment benefits. However, since 1973, the size of the active labour force has risen from 89\u00a0million to over 160\u00a0million. These 215,000 unemployment claims therefore represent a far smaller proportion of the active workforce than they did back in 1973.<\/p>\n
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<\/p>\n
OUR ANALYSIS<\/b><\/p>\n
The US employment market is still remarkably solid. Job creations remain high (2.2\u00a0million jobs created in the past twelve months), and the latest unemployment benefit claims number suggests that momentum remained strong in March.<\/p>\n
Furthermore, the JOLTS survey indicates a very low \u2018layoffs and discharges\u2019 rate, in line with the low level of benefit claims, and a \u2018quits\u2019 rate at highs matching those of 2005\u20132006.<\/p>\n
Although the disappointing consumption figures for the start of 2018 could weigh on first-quarter growth levels, the solid job creation numbers confirm that the US economy is in good health.<\/p>\n
<\/p>\n
The opinion expressed above is dated 30 March 2018 and is liable to change. <\/em><\/p>\n This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" CHART OF THE WEEK Weekly unemployment claims have fallen to lows not seen since 1973. For the week beginning 19… <\/p>\n","protected":false},"author":101016,"featured_media":7345,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[],"class_list":["post-7321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week"],"yoast_head":"\n