Sunday, October 17, 2021
The number of Americans filing new claims for unemployment benefits dropped below 300,000 last week for the first time in 19 months, further evidence that a shortage of workers was behind slower job growth rather than weakening demand for labor. With the second straight weekly decline reported by the Labor Department on Thursday, initial claims are now in the zone that is generally associated with healthy labor market conditions. Initial claims for state unemployment benefits dropped 36,000 to a seasonally adjusted 293,000 for the week ended Oct. 9. That was lowest level since mid-March 2020, when the nation was in the early stage of the COVID-19 pandemic.
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