Is There Full Employment in the U.S.?

The video discusses the significance of jobless claims as a leading economic indicator, highlighting a unique chart that shows a fully employed America. It emphasizes the importance of jobless claims in predicting economic trends, despite challenges like the opioid crisis. The discussion includes insights from experts on how these claims can signal economic downturns and recovery phases, making them a powerful yet sometimes overlooked tool in economic analysis.

According to the speaker, what percentage year over year indicates a potential economic downturn?

What does the speaker imply about the relationship between jobless claims and business cycle peaks?