Jobless Claims

U.S. jobless claims plunge to 49-year low of 210,000

The rate of layoffs as measured by U.S. jobless claims fell to the lowest level since 1969, reflecting the strongest labor market since the end of the dotcom boom nearly two decades ago. Initial U.S. jobless claims fell by 10,000 to 210,000 in the seven days ended Feb. 24. Economists surveyed by MarketWatch had forecast claims to total 226,000. New claims haven’t been this low since December 1969. The more stable monthly average of claims declined by 5,000 to 220,500, the government said Thursday. That’s also the lowest level since 1969.

Great news!!   🙂

Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market

Filings for unemployment benefits plunged last week to the lowest level since 1973 as workers affected by hurricanes Harvey and Irma continued to return to their jobs, Labor Department figures showed Thursday. The larger-than-projected decrease in claims probably reflected difficulty adjusting for the Columbus Day holiday. At the same time, the report showed further declines in claims in hurricane- affected states. The storms initially led to a spike in applications in Texas and the southeastern U.S. in late August and early September. The latest period also encompasses the reporting week that the Labor Department surveys for its October employment figures. Claims are at the lowest level in more than four decades, indicating employers have little desire to cut staffing levels amid a shortage of qualified workers.

More great news in this Trump economy!!    🙂