Layoffs Near a 57-Year Low, Productivity Surging — and Workers' Share of the Pie at a Record Low

Thursday's Labor Department data show an economy that is keeping Americans employed and getting more productive. They also show why so many voters still felt squeezed on Tuesday. Here are the numbers that explain both.

By Clara Hughes

Two days after an election fought over the cost of living, the Labor Department delivered a pair of reports that tell a more complicated story than the campaign ads did. The headline is strong. Initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 189,000 for the week ended Oct. 31, Reuters reported Thursday. Economists polled by Reuters had expected 196,000. Claims matched the 189,000 level touched in mid-July, which Reuters said was the lowest reading since 1969. CNBC described layoffs as "near lowest since 1969." In plain English: Americans who have jobs are, by this measure, about as secure in them as they have been in more than half a century. Keep reading with Altas Premium. Below: the productivity surprise, the record-low labor share that helps explain voter anger, what it means for the Fed's December decision, and what to watch in Friday's jobs report. [Subscribe to