Braking Down The News

U.S. Jobless Claims Reach 52-Year Low

Initial claims for jobless benefits fell last week to 199,000

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Weekly jobless claims fell sharply to the lowest level in 52 years, reflecting the labor market’s tightening as the economy recovers from the effects of the pandemic.

Worker filings for initial unemployment benefits, a proxy for layoffs, dropped 71,000 to 199,000 last week, the lowest level since November 1969, the Labor Department reported Wednesday.

 

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