Number of American’s Filing For Unemployment falls to near 49-year low

Number of American’s Filing For Unemployment falls to near 49-year low

The number of Americans filing for unemployment benefits fell to near a 49-year low last week.

The data pointed to sustained labor market strength that should continue to underpin economic growth.

Initial claims for state unemployment benefits dropped 10,000 to 203,000 for the week ended Sept. 1, the lowest level since December 1969, the Labor Department said.

Published CNBC 8:30 AM ET Thu, 6 Sept 2018 Updated 9:41 AM ET Thu, 6 Sept 2018
Reuters

Economists polled by MarketWatch has forecast claims to total 225,000 in the seven days ended March 17. The level of claims gives a rough idea of how many people are losing their jobs.

The more stable monthly average of claims increased by 2,250 to 223,750, the government said Thursday.

The number of people already collecting unemployment benefits, known as continuing claims, fell by 57,000 to 1.83 million. That’s the lowest level since December 1973.