A Stunning Decline in Unemployment Claims
The number of Americans filing for unemployment benefits last week fell to the lowest level in more than half a century. This is the latest sign of the labor market bouncing back from the coronavirus pandemic. Last week’s jobless claims totaled 199,000 when adjusted for seasonal swings, the lowest level since November 15, 1969.
Jeff Powell and Jeremy Witbeck discuss the dramatic drop in last week’s claims and whether or not it indicates just how good things are in the labor market and the overall economy right now.