Not to be left out of the party with initial jobless claims, continuing jobless claims have really started to pick up steam to the downside in the last few weeks.  In this week’s report, continuing claims fell to 1.707 million.  That’s the lowest reading in this series since November 1973.  Almost as impressive as the actual levels of continuing claims has been the speed at which they have declined recently.  Over the last three months, continuing claims have dropped by over 10%, which is a pace not seen since early 2011.

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