First-time U.S. jobless claims drop to 202,000
The numbers: The number of Americans who applied for unemployment benefits at the end of January fell close to a postrecession low, signaling the U.S. labor market is still rock solid despite stiffer economic headwinds.
New unemployment applications are seen as a rough measure of how many people are losing their jobs. They touched a 50-year low of 193,000 in April 2019 and have hovered in the low 200,000s since then. The number of people already collecting unemployment benefits, meanwhile, increased by 48,000 to 1.75 million.Also: These states had the lowest unemployment rates in 2019. What about swing states?
Although hiring has slowed, the U.S. is still adding more than enough jobs to nudge the unemployment rate even lower. The economy likely created 164,000 new jobs in the first month of 2020, economists forecast. The January jobs report comes out Friday morning.
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