Low level of jobless-benefit claims reflects factors including pullback in state aid
The fewest Americans in 42 years are filing applications for unemployment insurance, which on the surface looks like a sign of a historically hot U.S. labor market. The real picture is more complicated.
The decline does reflect overall improvements in hiring, and the headline numbers are impressive. Initial filings have remained below 300,000 for 84 straight weeks — the longest streak since 1970 — and continuing unemployment claims, at 2.05 million, are at the lowest level since 2000.
Patricia Laya & Jordan Yadoo | Bloomberg