U.S. Labor Market Tightens as Weekly Jobless Claims Hit Lowest Level Since 1969

28 March 2022

Initial claims for state unemployment benefits fell 28,000 to a seasonally adjusted 187,000 for the week ended March 19, the lowest level since September 1969. Economists polled by Reuters had forecast 212,000 applications for the latest week.

Last week's drop in claims was widespread, with large decreases in California, Michigan, Kentucky and Illinois.

The claims report showed the number of people receiving benefits after an initial week of aid decreased 67,000 to 1.350 million during the week ended March 12, the lowest since January, 1970.

Source:  Reuters
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