US Savings Rate Tumbles Despite Lowest Jobless Claims Data In 57 Years

The number of Americans filing for unemployment benefits remained near its lowest levels since 1969 last week at just 197k (below the 200k exp)...

Continuing jobless claims are also falling back to cyclical lows...

Additionally, both income and spending are also trending higher...

But overall, the savings rate is tumbling...

So, the 'low hire, no fire' economy leaves Americans still spending but higher prices are forcing savings to be drawn down to maintain quality of life.