US Jobless Claims Hit Lowest Levels in Over 40 Years

The US job market looks like it’s in for more positive movements in the coming days after the country’s jobless claims dipped to its lowest levels in 44 years. Jobless claims dropped by 19,000 to 223,000 last week, which is now being tagged as the lowest unemployment claims data since March 1973 and went way below the initial forecasts from the US Labor Department, which predicted jobless claims to amount to over 245,000 applications. This forecast shows that the majority of employers are holding off job dismissals as the market demand remains consistent and the labor industry remains competitive.