US initial jobless claims rose slightly to 239k for the week ending November 4th. But initial jobless claims remain near the 44 year low.

joblessclaims

If we look at the 4 week moving average of initial claims, it too is at a 44 year low.

monthlyavg

Now that is an impressive feat! Now if only earnings growth would return to 1973 levels. Current YoY wage growth is roughly 1/3rd of 1973 wage growth.

earnpriv

The President during 1973?

220px-Richard_M._Nixon,_ca._1935_-_1982_-_NARA_-_530679