Jobless Claims in U.S. Decline as Average at 8-Year Low

Olivia Sterns reports on jobless claims falling by 1,000 to 287,000, marking the fourth consecutive week below 300,000, a level not seen since February 2006. This suggests employers are retaining workers as the economy improves. Despite strong nonfarm payrolls and a drop in the unemployment rate to 5.9%, some economists highlight ongoing economic weaknesses, such as long-term unemployment at 11.8% and low participation rates. Overall, the report offers a positive outlook on the labor market.

What percentage of long-term unemployed individuals was reported?

Evaluate responses using AI:

OFF

What is the significance of the jobless claims number falling to the lowest reading since February 2006?

Evaluate responses using AI:

OFF