The Short of It

Unemployment benefit claims hit 44-year low

By Lauren AguirreMarch 2, 2017

03/02/17

The number of Americans filing for unemployment benefits has hit a 44-year low. Claims for state unemployment benefits have dropped by 19,000. Only 223,000 people filed for benefits. This is the lowest this number has been since March 1973, according to the Labor Department. This is the 104th straight week where claims were below 300,000. The decreased number of Americans filing for benefits indicates a healthy labor market. This stronger labor market combined with rising inflation could push the Federal Reserve to raise interest rates soon.