New Jobless Claims Fall To Lowest Level In 53 Years

CNBC reports:

The labor market tightened further last week, with initial jobless claims falling to their lowest level in more than 53 years, the Labor Department reported Thursday.

Initial filings for unemployment dropped to 166,000, well below the Dow Jones estimate of 200,000 and 5,000 under the previous week’s total, which was revised sharply lower.

The total of those receiving benefits under all programs declined to 1.72 million. The number was 18.4 million a year ago, when the government was providing enhanced support to workers displaced by Covid.

Read the full article.

Omg, NO! More indisputable proof that @POTUS #Biden is ‘destroying’ the economy… https://t.co/YLg4w43Xdm

— Andy Ostroy (@AndyOstroy) April 7, 2022