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Big News Network.com Friday May 19, 2017
Decreasing for three consecutive weeks, U.S. jobless claims have now tumbled to a 28 year low
The Labor Department has released figures revealing that state unemployment benefits decreased 4,000 to a seasonally adjusted 232,000 for the week ended May 13. This, the department pointed out pushed claims close to levels last seen in 1973 - a 28 and a half year low. Claims have now decreased for three consecutive weeks, pointing to rapidly shrinking labor market slack. Indicating a healthy labor market, the department said claims have now been below 300,000, for 115 straight weeks. This, it further noted was the longest such stretch since 1970, when the labor market was smaller. Meanwhile, hiring has remained steady, despite the first quarter's slow growth. In April, employers added 211,000 jobs as the unemployment rate fell to a 10-year low of 4.4 percent. Suggesting further job gains this...Read more
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