NEC Dir. Kevin Hassett: We Had Initial Claims for Unemployment Insurance at About the Lowest We’ve Ever Seen

EXCERPT:

HASSETT: “Yeah, I think that, if you look at all the data that we got this week, then, you know, we had initial claims for unemployment insurance about the lowest we’ve ever seen, which means that people aren’t getting fired. And, you know, getting fired is one of those things that has the biggest disruptive effect on people’s lives and on the economy. The second thing we saw from the JOLTS data was that people were actually quitting. So, people think the data market is so strong that they can leave their job and go look for another job, maybe because they don’t like their boss or they want a higher salary. And now we see a jobs number that’s through the roof, you know, it’s more than double the consensus and the revisions for the previous couple of months."