U.S. Jobless Claims Drop

The number of jobless claims has fallen to 247,000 and it is the lowest it has been since 1973.  Jobless claims indicate that employers are laying fewer people off and is a sign that they are more optimistic about the growth of the economy than pessimistic.  Bloomberg reports, ” First-time claims have held below 300,000 — a level economists typically associate with robust labor conditions — for 59 consecutive weeks, the longest such stretch since 1973.”

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