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U.S. Initial Jobless Claims Decline to Lowest Since 1969

Published 03/24/2022, 08:32 AM
Updated 03/24/2022, 08:36 AM
© Bloomberg. A worker sands wood components for a pool table in Jeffersonville, Indiana. Photographer: Luke Sharrett/Bloomberg

(Bloomberg) -- Applications for U.S. state unemployment insurance fell last week to the lowest since 1969 as demand for labor far exceeds supply and rampant inflation keeps the incentive to work high.

Initial unemployment claims decreased by 28,000 to 187,000 in the week ended March 19, Labor Department data showed Thursday. The median estimate called for 210,000 applications in a Bloomberg survey of economists.

Continuing claims for state benefits dropped to 1.35 million in the week ended March 12.

The drop in claims is consistent with a labor market in which employers are desperately trying to hang onto workers and attract new ones. Applications should stay low as the combination of dwindling savings and decades-high inflation is raising Americans’ financial incentive to work.

©2022 Bloomberg L.P.

Latest comments

on shadowstats you can see real inflation numbers....summer 10% + Inflationfall no more Dems in charge
people are working to survive. discretionary funds are non-existen
The extreme right wing snowflakes will surely be triggered by this. Democrats are jOb KiLlErS after all lmfao
Another target, kohls, walmart, etc opening are technically providing jobs, but wont let people live a middle class lifestyle. America needs careers not jobs
so fund education, this stuff isnt hard
1969, was a good year, the height of the Vietnam war.  If you wanted a job, you could have a job.  If you didn't want a job, you were likely going to be drafted into the military, so you would have a job.  The labor market was tight, like now. And, inflation ended the year at 5.3%.  So there could be lessons then, that we can use now.
Let's go Biden!
Fake figure!!!​
1969???? one the last years of the baby boomers???? then followed by iran oil embargo???? then the stagflation era????
Menial labor and a job in target or walmart arent careersAmerica needs industry and jins thst buy homes
man, service economy is booming, let industries sector to canada, mexico, and china....
Get a job.
it's almost funny to hear the the right...  continue to claim how we need to stop immigration from mexico in particular... as these "illegals" steal jobs from americans...   americans have pretty much said no thanks to the crappy service and entry level jobs..
You do realize that flooding the labor market with more unskilled labor lowers the wages for the lowest wage earners? Democrat policies are always meant to hurt the lower and middle wage earners… its not a bug… its the feature…
are you ESL? I think you may be because your english writing s u c k s. Ive seen immigrants with much better writing. Sorry if this is liberal race baiting and triggers your snowflake tendencies.
you cant even write coherent english. Immigrants understand the language better than you. Don’t get too triggered !
then if you have no job you are jobless, then change to if you are not finding a job you are not jobless, then they add if you are jobless for six months you are not jobless....
Oh, a paradoxal truth
do they change the meaning of "Jobless" again????
Lmao, inflation is a good drive for ppl to work.
So is honor, dignity and responsibility. You should try it.
wasn't 1969 a time just before the disaster of the 1970s?
is this news positive or negative to stock market!?
Positive news is negative to the stock market.
lies...
Will there be unemployment benefits, because inflation cannot maintain the minimum living standard, resulting in more employment?
mm.. the FED could need to increase the interest +5%
yes it will increase to 5% and in next few weeks get ready for market crash. same like 2008
yes it will increase to 5% and in next few weeks get ready for market crash. same like 2008
yes it will increase to 5% and in next few weeks get ready for market crash. same like 2008
hmm are we finally exhausting the unemployment limits? Its been so long that the unparticipating workforce can no longer partake the handout? Somehow I doubt this independence will be tolerated, government dependency is the end game.
sarcasm is a sign of a week mind.
Difficult for the working class to keep up; "dwindling savings and decades-high inflation is raising Americans’ financial incentive to work"
you realize we have just exited the longest period in economic history of flat inflation?  not decades of inflation...
How is this even possible when we have Stagflation. Perhaps Stimmy Checks are a great away to reduce unemployment? No need for UI either lol
labor participation rates are still low, below prepandemic levels. Why don't I see this reported I wonder?
they only report what they want....
source: trust me bro
Lmao
Only because there's not that many ELIGIBLE people to file for unemployment.
bc there's not that many ELIGIBLE people to file for unemployment.
Increase of working people but also increase of poor people... It's amazing... USA is on decline
Elections have consequences
“The poor will always be with us”. Queen Victoria, I believe. For all of the social programmes and voting rights for all, her observation has remained valid.
Everything on Wall St is awesome so that means increasing poverty isn't important and should be ignored as a financial well-being indicator
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