New Unemployment Claims Drop to Modern Low

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A friend writes to point out that initial unemployment claims have continued dropping, and are now at their lowest level in 40 years. In fact, if you look at unemployment claims as a percentage of total employment, they’re at their lowest level in forever:

I’m not quite sure what to make of this. Unemployment claims have been steadily dropping since the mid-80s, and didn’t spike during the Great Recession nearly as much as they did during the recessions of the 70s and 80s. Is this because the rules have gotten tougher? Because employers aren’t laying off as many people as they used to during recessions? Or is it just an artifact of the drop in workforce participation, which means fewer marginally attached workers are getting permanent jobs in the first place?

I’m not sure. But initial claims are now below 0.2 percent of the workforce, a modern record.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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