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Unemployment Insurance Weekly Claims Report
In the week ending January 13, the advance figure for seasonally adjusted initial claims was 220,000, a decrease of 41,000 from the previous week's unrevised level of 261,000. This is the lowest level for initial claims since February 24, 1973 when it was 218,000. The 4-week moving average was 244,500, a decrease of 6,250 from the previous week's unrevised average of 250,750. Claims taking procedures continue to be disrupted in the Virgin Islands. The claims taking process in Puerto Rico has still not returned to normal. The advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending ... (full story)
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Jobless Claims in U.S. Plunge to Lowest Weekly Tally Since 1973
The drop in claims shows that companies are increasingly holding on to their employees amid a shortage of skilled labor. Businesses are struggling to find workers to fill positions, particularly in manufacturing and construction, as cited in some anecdotes for the Federal Reserve's Beige Book released Wednesday. The figures suggest the unemployment rate of 4.1 percent, already the lowest since 2000, could be poised to decline further. The latest week for claims includes the 12th of the month, which is the reference period for the Labor Department's monthly employment surveys. Caveats for the latest numbers include ... (full story)