The Teflon Job Market – WSJ

One of the surest signs that the job market is starting to falter is a significant increase in layoffs.No signs of that in the US yet

In fact, few Americans are out of work. On Thursday, the Labor Department Initial claims for unemployment were just 214,000 The week ending Saturday was down from 226,000 the previous week. That’s around the low level they averaged this year. In the past, claims tended to exceed 400,000 early in a recession. The October jobs report looks set to continue showing strength, as last week was the period the Labor Department bases its monthly jobs report on.