Jobless claims across the U.S. fell to the lowest level since 1973, the Labor Department said Thursday.
1973? To refresh your memory, Richard Nixon was president, the Dow was at 850, a gallon of gas cost 40 cents, “American Graffiti” was on the big screen, and Billie Jean King and Bobby Riggs competed in “The Battle of the Sexes.”
“Claims at the lowest level in 45 years underscore a persistent shortage of qualified workers that has made employers reluctant to fire staff. Applications for jobless benefits below the 300,000 tally are typically considered consistent with a healthy labor market,” Bloomberg Newsreported.
“Other aspects of the job market remain robust, with payrolls continuing to exceed expectations and an unemployment rate near the lowest since late 2000. Steady employment will help to sustain consumer spending, the biggest part of the economy.” – READ MORE
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