Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market
(Worthy News) – Filings for unemployment benefits plunged last week to the lowest level since 1973 as workers affected by hurricanes Harvey and Irma continued to return to their jobs, Labor Department figures showed Thursday.
The larger-than-projected decrease in claims probably reflected difficulty adjusting for the Columbus Day holiday. At the same time, the report showed further declines in claims in hurricane- affected states. The storms initially led to a spike in applications in Texas and the southeastern U.S. in late August and early September.
The latest period also encompasses the reporting week that the Labor Department surveys for its October employment figures. Claims are at the lowest level in more than four decades, indicating employers have little desire to cut staffing levels amid a shortage of qualified workers. [ Source: Bloomberg (Read More…) ]
Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.
💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.
📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌