[XenaLee]

Simons expects that the continued strength of claims shows that the labor market is "grinding towards full employment."

I'm confused. Is this 1984-style double-speak? Because it makes absolutely NO sense, logically. What am I missing??? Could somebody please explain how the labor market could be "grinding towards full employment"....when the jobless claims are still over 200,000 PER WEEK.

[alexander_busek]

Could somebody please explain how the labor market could be "grinding towards full employment"....when the jobless claims are still over 200,000 PER WEEK.

There are surely others here more competent to explain this... Or are you asking a merely rhetorical question?

Because, for a job market as large as America's, a mere 200-300,000 claims is a drop in the bucket - practically equivalent to baseline full employment (after all, in even the most robust labor market, there will always be a tiny fraction of people who just happen to be "between jobs").

Regards,