The last time this few Americans sought the help of government after losing a job was in November 1969.
Initial Jobless Claims tumbled another 8K from the prior week's revised 204K to just 196K: the first sub 200K print in 50 years!
While the number will probably not come as a big surprise in light of the recent sharp rebound in payrolls, the Fed will be hard pressed to explain why it is pausing its rate hikes at a time when the fewest number of Americans are filing for jobless benefits in half a century.
For some context, the last time claims were this low:
The Beatles' "Abbey Road" Album hit #1
Wendy's Hamburgers, American fast food restaurant chains founded by Dave Thomas opens in Columbus, Ohio
Alcatraz Island off SF, is seized by militant Native Americans
US performs nuclear test at Nevada Test Site
USSR performs nuclear test at Eastern Kazakh/Semipalitinsk USSR
So much for that Q1 weakness?