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U.S. Jobless Claims Fall to 49-Year Low

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John Beagle View Drop Down
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    Posted: Apr 04 2019 at 10:14am
 

U.S. Jobless Claims Fall to 49-Year Low, Below All Forecasts

Filings for U.S. unemployment benefits unexpectedly fell, dropping to the lowest since December 1969, as the labor market tightened further.

Jobless claims decreased to 202,000 in the week ended March 30, below all economist forecasts, Labor Department figures showed Thursday. The four-week average, a less-volatile measure, declined to 213,500, the lowest since October.

Key Insights 
The surprising drop in claims is an indication that the labor market continued to tighten, with employers holding onto workers and loathe to let them go. The level of continuing claims, which had moved up in recent months, fell the most since November in the week ended March 23.

At the same time, the ADP Research Institute said this week that firms added the fewest workers in March since 2017, potentially signaling some weakness.

A Bloomberg survey of economists had forecast a gain of 215,000.

Continuing claims, which are reported with a one-week lag, fell by 38,000 to 1.717 million in the week ended March 23.
The unemployment rate among people eligible for benefits held at 1.2 percent. The level has been unchanged since May.
The previous week’s claims were revised up to 212,000 from 211,000.

By Katia Dmitrieva — With assistance by Jordan Yadoo

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The privilege of a lifetime is being who you are.
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John Beagle View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote John Beagle Quote  Post ReplyReply Direct Link To This Post Posted: Apr 04 2019 at 10:20am
Why do you suppose unemployment is so low? Are we still in the Obama economy?

We all know the answers to these questions, don't we.
The privilege of a lifetime is being who you are.
-Joseph Campbell
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Houndog Quote  Post ReplyReply Direct Link To This Post Posted: Apr 04 2019 at 11:11pm
 The nutty idealist in me would love to see the headline: American Wages Increase. 
Now that would be something to scare the blank out of all the snowflake economists. 
           They would all scramble back to their ivory towers, screaming: THIS WASN'T SUPPOSED TO HAPPEN!!!
Frantically phoning the members of the board. Begging forgiveness. 
            Unemployment numbers mean nothing to me as an individual. I will always be employed, right up until the day I die. 
But just once, in my life, I would love to see my wages outpace the cost of goods and services. 
Yet I am not as dumb as I look. Why would the corporations ever let that happen? That is bad for business. 
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