U.S. Jobless Claims Rise From Lowest in Almost 45 YearsBy
U.S. filings for unemployment benefits increased a week after plunging to the lowest level since 1973, underscoring a still historically tight jobs market, Labor Department figures showed Thursday.
Highlights of Jobless Claims (Week Ended Jan. 20)
Even with the weekly rise, claims remain near historic lows, indicating employers are reluctant to pare headcount as they struggle to find skilled workers from an ever-shrinking pool. For more than two years, applications for jobless benefits have been in healthy territory below the 300,000 level.
A tight labor market is not lost on corporate leaders. Brian Moynihan, chief executive officer of Bank of America Corp., said at the World Economic Forum in Davos, Switzerland, that a 4.1 percent unemployment rate meant the “reality of bringing a lot of jobs back is difficult. Where are the people to do the work?”
- Prior week’s reading was revised to 216,000 from 220,000
- Unemployment rate among people eligible for benefits held at to 1.4 percent
- Claims were estimated for Maine