FYI: Jobless claims continued to amaze this week coming in at a level of 203K versus consensus expectations of 213K. At this level, first time claims haven’t been lower since December 1969. This week’s report also marks a record 183 straight weeks where claims have come in at or below 300K, the 48th straight week where claims have been at or below 250K (longest streak since January 1970), and the 9th straight week where claims have come in at or below 225K (longest streak since 1969). As shown in the chart below, we’re now coming extremely close to the point where we may have to adjust the Y-axis lower.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/jobless-claims-in-full-1969-mode/
Comments
The numbers below are for reference to the number of people, many of whom held full time work positions and were forced to end that employment.
Sidenote: To the best of my knowledge, all major union employers held a forfeited work position in place for the period of military service for an individual (within a reasonable period of time, not being extended to years of active military service). I recall that the acceptance period to return to a work position was from 3-6 months following release from active military service, after which the offer/guarantee was removed.
Induction Statictics (legal mandatory draft)
The following shows the numbers of men who entered military service through the Selective Service System during the years indicated, relative to the Vietnam war period, which includes 1969.
1963: 119,265
1964: 112,386
1965: 230,991
1966: 382,010
1967: 228,263
1968: 296,406
1969: 283,586
1970: 162,746
1971: 94,092
1972: 49,514
1973: 646 (traditional draft terminated)
Note: total inductions for years 1965-1969 is 1,421,256.
Note 2: 1969 U.S. population = 203 million; 2017 U.S. population = 326 million
NYT, 1971, employment
Lunch break.
Catch