US weekly jobless claims lowest since 1969
The number of Americans filing applications for unemployment benefits dropped to a more than 49-year low last week, pointing to sustained labor market strength despite slowing economic growth.
Data for the prior week was revised to show 1,000 more applications received than previously reported. Claims have shown no sign of a pickup in layoffs even as the economy has lost momentum as the stimulus from a $1.5 trillion tax cut package fades. Companies are experiencing a shortage of workers, which contributed to a recent slowdown in hiring.
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