The number of Americans filing claims for unemployment benefits hasn’t been this low since Richard Nixon was president, according to new data from the U.S. Labor Department.
The figures suggest a tight labor market in which employers are retaining employees because there aren’t as many available qualified workers, Bloomberg reported:
Overall, the employment picture remains solid, with payrolls continuing to increase and the unemployment rate at the lowest since late 2000. Job growth will help sustain consumer spending, the biggest part of the economy.
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