U.S. Jobless Claims Plummet to 222,000 Last Week U.S. Jobless Claims Plummet to 222,000 Last Week – NTK Network

U.S. Jobless Claims Plummet to 222,000 Last Week

Americans filing for unemployment dropped by 7,000 to the second lowest level ever, according to the Labor Department.

By NTK Staff | 02.22.2018 @9:54am
U.S. Jobless Claims Plummet to 222,000 Last Week

Weekly jobless claims – the number of Americans filing for unemployment in a given week – fell by 7,000 to 222,000 last week, according to the U.S. Labor Department.

That is the second-lowest level on record and near the 45-year low. Estimates were used for six states, however, due to the President’s Day holiday.

Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 222,000 for the week ended February 17, the Labor Department said on Thursday. Still the underlying trend in claims suggested job growth in February, which should continue to underpin the economy.

Experts predicted jobless claims would be near the 230,000 level.

According to CNBC, claims fell to 216,000 in mid-January, the lowest level seen since 1973. Unemployment is currently at 4.1 percent, a level described by CNBC as “near full employment.”

Thursday’s jobless claim news was preceded by a CNBC poll, which saw economic optimism among small businesses at a record high, thanks in part to the GOP tax bill.

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