Thursday, January 14, 2010
Weekly unemployment claims are still pretty high from an historical perspective, but I note that they were this high or higher more than a year after the last two recessions. The "healing" of the job market (defined as the reduction in the number of people being laid off) has proceeded at a much faster pace this time around. That's most likely due to the severity of this recession, of course, but it's a positive spin that gets easily overlooked.
Posted by Scott Grannis at 8:26 AM