U.S. Jobless Claims Plunge to Lowest Weekly Tally Since 1973

Welcome to ACME Mustache Wax Company. We’re glad to have you aboard.

 

(From Bloomberg)

The drop in claims shows that companies are increasingly holding on to their employees amid a shortage of skilled labor. Businesses are struggling to find workers to fill positions, particularly in manufacturing and construction, as cited in some anecdotes for the Federal Reserve’s Beige Book released Wednesday.

The figures suggest the unemployment rate of 4.1 percent, already the lowest since 2000, could be poised to decline further. The latest week for claims includes the 12th of the month, which is the reference period for the Labor Department’s monthly employment surveys.

OK grad students hiding out in school or Austin, go do your thing.

Click here for the article.