La­bor Party Like It’s 1973

Bloomberg Businessweek (North America) - - Global Eco­nom­ics - By Mark Glass­man and Vic­to­ria Stil­well

An im­por­tant eco­nomic in­di­ca­tor touched an his­toric mile­stone in the week ended April 16, when ini­tial job­less claims— the num­ber of peo­ple fil­ing for un­em­ploy­ment ben­e­fits for the first time— fell to their low­est level since the week ended Nov. 24, 1973.

Not bad, but a re­ces­sion did be­gin that month

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