The U.S. labor market continues to show strength as jobless claims remain near historic lows. The Department of Labor reported that jobless claims rose slightly to 267,000 from the previous week’s number of 255,000. This result came in below consensus forecasts of 272,000 and is still within range of lows last achieved in 2000.
Clearly, the labor market has fully recovered from the recession and is experiencing the type of employment that suggests a boom period. But with recent GDP numbers only at 2.3% and wage growth stagnant at 2%, is the U.S. economy really getting anywhere or is it just running in place?