Jobless claims dropped to 222,000 this week, which is the lowest level seen in 44 years, the Washington Examiner reported.
Claims for unemployment benefits were expected to drop to 240,000 but dropped even further to 222,000.
“Low jobless claims are a good sign,” the article says. “They suggest that layoffs are infrequent and accordingly that net job growth is strong. Because the claims numbers are aggregated from state unemployment agencies weekly, they are valued by investors and government official as a high-frequency gauge of the economy’s health.” – READ MORE
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