Jobless claims fall to 166K, lowest level since 1968

[mystery-ak]

 Jobless claims fall to 166K, lowest level since 1968
by Sylvan Lane - 04/07/22 9:32 AM ET

New weekly claims for unemployment insurance fell to the lowest level since 1968 at the end of March, according to data released Thursday by the Labor Department.

In the week ending April 2, the seasonally adjusted total of new claims for jobless benefits fell to 166,000, a decline of 5,000 from the previous week. Seasonally adjusted weekly jobless claims have fallen to the lowest level since the week ending Nov. 30, 1968, when 162,000 Americans filed to start a new cycle of unemployment insurance.

The Labor Department also revised the previous week’s seasonally adjusted total of jobless claims down by 31,000 to 171,000 from an initially reported level of 202,000. The size of the revision may be due in part to new seasonal adjustments used by the Labor Department this week to better account for the effects of the pandemic.

Without seasonal adjustments, weekly jobless claims fell 3,674 to a total of 193,137, a decline of 1.9 percent from the previous week.

more
https://thehill.com/policy/finance/3261405-jobless-claims-fall-to-166k-lowest-level-since-1968/

[catfish1957]

These kind of numbers deserve a rapid shut off of the entitlement spigot.

Can one person name one reason why anyone should be unemployed right now?  Especially with home based zoomed kind of work available?

Only unmeployed right now should be a couple of 100 in congress.

[Smokin Joe]

Jobless claims are the measure of new unemployment claims filed. I'd wager most of those who were at one time eligible have exhausted their unemployment benefits, and can't file a new claim until they have worked for a while.

In essence, all this tells me is that they have run out of people who are eligible for benefits, not that they have reduced unemployment.

[catfish1957]

Jobless claims are the measure of new unemployment claims filed. I'd wager most of those who were at one time eligible have exhausted their unemployment benefits, and can't file a new claim until they have worked for a while.

In essence, all this tells me is that they have run out of people who are eligible for benefits, not that they have reduced unemployment.

Good points.  In a normal economy the ones "gaming' the system can go pretty stealth. Now?  Kind of hard to hide your lack of work, or desire to find a long term employer. 

[Kamaji]

Jobless claims are the measure of new unemployment claims filed. I'd wager most of those who were at one time eligible have exhausted their unemployment benefits, and can't file a new claim until they have worked for a while.

In essence, all this tells me is that they have run out of people who are eligible for benefits, not that they have reduced unemployment.