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BREAKING: Weekly jobless claims fall to lowest level in half a century

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Jobless claims just came in at their lowest since 1969!

From nbcnews.com

The number of initial claims for unemployment benefit fell by 10,000 last week to 202,000 — the lowest since Dec. 6, 1969 — according to data released Thursday by the Labor Department.

The weekly figure further underscores the robustness of a labor market where improved economic conditions and higher wages are bringing people off the sidelines and back to work, especially older Americans and women.

Workers are displaying more confidence they can find a well-paid job, since employers must offer higher compensation to attract and retain the best applicants. With a shortage of qualified workers, some companies are even “locking in” the most highly skilled candidates, hiring them where no position is currently available.

The Labor Department data was released the same day that Target, one of the nation’s largest retailers, with over 300,000 workers, said it would be raising its minimum wage from $12 an hour to $13 an hour starting in June, and rising to $15 by the end of 2020.

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