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Why unemployment claims are at their lowest in decades
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Claims for unemployment benefits dropped to their lowest level in decades last week. However, that statistic is getting skewed by pandemic-era labor distortions, making it seem a bit rosier than reality, economists said.
There were 184,000 initial claims (a proxy for benefit applications) the week ended Dec. 4, the U.S. Department of Labor said Thursday. That's 43,000 fewer than the week prior and the lowest level since Sept. 6, 1969.
The report tops another eye-popper just two weeks earlier,
Read more on cnbc.comAbout this in other media
Lost work due to omicron? What to know about unemployment benefits cnbc.com /2 years ago
Dashing Fed’s Hopes, Low Unemployment Becomes an Inflation Threat wsj.com /2 years ago
Jobless Claims Likely Remained Near Decades Low, Economists Say wsj.com /2 years ago
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