U.S. Jobless Claims Fall to Near 1973 Low

  • 2/5/2023
  • 16:44
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Washington, Ramadan 18, 1437, Jun 23, 2016, SPA -- The number of people filing initial applications for U.S. state unemployment benefits fell last week, the government reported Thursday, indicating employers are retaining their staffs and may increase hiring. The Labor Department said jobless claims fell 18,000 to 259,000 last week, the lowest level in two months and near a 1973 record low. Claims, a measure of layoffs, have been below 300,000-a level associated with an improving labor market-for 68 consecutive weeks, the longest such streak since 1973. The four-week moving average of jobless claims-a less volatile measure considered a better gauge of labor-market trends-fell 2,250 to 267,000. The total number of Americans receiving unemployment benefits fell to 2.14 million last week, 4.6 percent lower than a year ago. The data suggests a recent slowdown in hiring will be temporary. Employers added only 38,000 jobs in May and an average of only 116,000 in the past three months, about half of the average 2015 monthly pace. --SPA 21:19 LOCAL TIME 18:19 GMT www.spa.gov.sa/w

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