Jobless Claims Strike Lowest Level Since 1969

Jobless Claims Strike Lowest Level Since 1969

Research  these Stocks on Kapitall’s Playground Now

 
research now

by: Elizabeth Balboa, Benzinga Staff Writer

 

Layoffs in the U.S. fell to a seasonally adjusted 209,000 last week — the lowest figure recorded by the Labor Department since President Richard Nixon’s first term.

Continuing claims, a count of ongoing collection of unemployment benefits, dropped by 29,000 to 1.84 million.

Why It’s Important

To be sure, economists had expected a decline from early April rates inflated by spring break and the Easter holiday, when some states allow certain professionals to collect unemployment.

Consensus, according to The Wall Street Journal and Reuters polls, forecasted between 228,000 and 230,000 claims.

The accelerated drop reflects labor market strength indicative of enduring economic expansion. Jobless claims, measured by applications for unemployment benefits, decline as the labor market approaches full employment.

Notably, the economy has averaged 202,000 new jobs per month this year against last year’s 182,000.

What’s Next

Historically, a tightening market brings increased probability of a Federal Reserve interest rate hike. The next Fed meeting will be May 1 and 2.

 

© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

stockstarsbanners640x1362jpg

2 responses to “Jobless Claims Strike Lowest Level Since 1969”

  1. play game says:

    Here the many option to easily access in commend prompt i must be like to visit here and see amazing feature to find how to open command prompt in windows 10 you need to install the latest version to and seen the task manager for using this.

  2. Group d says:

    This news tells that the development is in full swing.

Leave a Reply

Your email address will not be published. Required fields are marked *

wirebanner1jpg
  • See Most Recent Articles