Economy

Here’s why unemployment claims hit their lowest level since 1969

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Recruiters speak with potential applicants during a job fair in Leesburg, Virginia, on Oct. 21, 2021.

ANDREW CABALLERO-REYNOLDS | AFP | Getty Images

Claims for unemployment benefits dipped to their lowest point in more than 50 years the week before Thanksgiving — a remarkable rebound from the nosebleed levels earlier in the Covid-19 pandemic.

The reduction is good news for the U.S. economy and labor market. However, the headline figure masks a detail that likely makes the data appear overly rosy, according to labor experts.

“I would not break out the party hats just yet,” said AnnElizabeth Konkel, an economist at job site Indeed.

Seasonal adjustment

Workers filed 199,000 initial claims…



Source cnbc.com

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