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Rate-Hiking Time? Initial Jobless Claims Hold At 42 Year Lows

Initial jobless claims fell 11k (on an adjusted basis) to 264k last week - hovering near its lowest level since 1973 as firms hoard labor leaving The Fed stuck between an "everything looks awesome" rock and a "well we have to admit all these indicators are bullshit" hard place...

Seasonally adjusted...

 

And non-seasonally adjusted... officially the lowest level since 1973...

 

Seems like the ZIRP Emergency Is Over!!

 

Charts: Bloomberg