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US jobless claims plunge to lowest level in 52 years amid seasonal volatility
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The number of Americans applying for unemployment benefits plunged last week to the lowest level in 52 years, more evidence that the US job market is recovering from last year’s coronavirus recession.
Unemployment claims dropped by 43,000 to 184,000 last week, the lowest since September 1969, the labor department said Thursday. The four-week moving average, which smooths out week-to-week ups and downs, fell below 219,000, the lowest since the pandemic hit the United States hard in March 2020.
Seasonal volatility probably contributed to last week’s drop as the labor department adjusted the numbers to reflect job market fluctuations around the holidays, said Stephen Stanley, chief economist at Amherst Pierpont Securities. Before seasonal
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