U.S. weekly jobless claims falls to its lowest level since 1969, according to Labor Department
FILE - Marriott human resources recruiter Mariela Cuevas, left, talks to Lisbet Oliveros, during a job fair at Hard Rock Stadium, Friday, Sept. 3, 2021, in Miami Gardens, Fla. Fewer Americans applied for unemployment benefits last week, as layoffs continue to decline amid a strong job market rebound. Jobless claims fell by 15,000 to 214,000 for the week ending March 12, 2022 down from the previous week's 229,000, the Labor Department reported Thursday, March 17.
The four-week average for claims, which compensates for weekly volatility, also fell to levels not seen in five decades. The Labor Department reported that the four week moving average tumbled to 211,750 from the previous week’s 223,250. U.S. businesses posted a near-record level of open jobs in January — 11.3 million — a trend has helped pad workers’ pay and added to inflationary pressures.
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