Staffing Industry Analysts (03/24/22)
US initial jobless claims fell last week to their lowest level since September 1969, according to seasonally adjusted data released today by the US Department of Labor.
Initial jobless claims dropped by 28,000 in the week ended March 19 compared to the previous week’s revised number to a level of 187,000.
“That initial unemployment claims fell to a jaw-dropping 187,000 in the most recent week is proof that the labor market is growing even tighter and we should expect hiring to stay at least as strong as it’s been over the last few months,” Robert Frick, corporate economist at the Navy Federal Credit Union, told The Hill.
Meanwhile, the four-week moving average of jobless claims fell by 11,500 in the week ended March 19 to a level of 211,750.