U.S. jobless claims plunge to lowest level since 1973

“Filings for unemployment benefits plunged last week to the lowest level since 1973,” Sho Chandra reports for Bloomberg.

“The latest period also encompasses the reporting week that the Labor Department surveys for its October employment figures,” Chandra reports. “Claims are at the lowest level in more than four decades, indicating employers have little desire to cut staffing levels amid a shortage of qualified workers.”

Chandra reports, “Four-week average of initial claims, a less-volatile measure than the weekly figure, dropped to 248,250 from 257,750.”

Read more in the full article here.

MacDailyNews Take: This certainly bodes very well for the economy in general and for makers of coveted goods, like Apple, in particular, going into the holiday shopping season.

It’s looking like a very Merry Christmas for Apple this year!

SEE ALSO:
U.S. consumer confidence shows Americans upbeat on jobs, economy – July 25, 2017

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61 Comments

    1. Amen!

      It is hilarious and delusional to read comment after comment supporting the economic policies of the last eight years, that SOMEHOW, SOMEWAY, had everything to do with PRESENT day economic recovery.

      No credit to President Trump, not even a teensy acknowledgement confidence is HIGH?!? Gee, what a SURPRISE!

      FAKE partisan comments.

      Nuff said …

    2. What has changed is the USA is losing its collective mind listening to the least competent administration in history make fools of us all.

      Also, Apple released a couple iPhones to juice the economy for a couple months.

      1. What a brilliant economic insight, goeb.

        Instead of your cheesy insults, how about you explain specifically how the US economy ever pivots on a dime. No legislation has been passed, no major new spending by either government or business. Unless you are counting climate change disasters as positive for the economy. Then you need your head examined.

        Put up or shut up economic armchair idiot.

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