Jobless claims fall to nearly a 44-year low
Source: The Hill
BY VICKI NEEDHAM - 03/02/17 09:59 AM EST
Americans filed the fewest claims for jobless benefits in nearly 44 years last week, a sign that employers are hanging on to workers as the labor market tightens.
First-time claims for unemployment benefits for the week ending Feb. 25 decreased 19,000 to a seasonally adjusted 223,000, the lowest level since March 31, 1973, the Labor Department reported on Thursday.
The four-week moving average, which is a less volatile measure of the job market’s health, fell 6,250 to 234,250, the lowest level since April 14, 1973 when it was 232,750.
A Moody’s Analytics note on the report said that "initial claims are too good to be true."
"Though claims hit a new cyclical low, we caution against reading too much into it," the note said.
Read more: http://thehill.com/policy/finance/321968-jobless-claims-fall-to-nearly-a-44-year-low
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