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Job Market

Jobless Claims Plummet To 42-year Low

WASHINGTON, DC — Six years after a brutal recession that wiped out more than 8.5 million jobs, Americans are now enjoying a nearly unprecedented level of job security. The number of people seeking U.S. unemployment aid plunged last week to the lowest in nearly 42 years. Applications for jobless benefits are a proxy for layoffs, so the low level indicates that employers are keeping their staffs and likely hiring at a steady pace. Weekly applications for unemployment benefits fell 26,000 to 255,000, the fewest since November 1973, the Labor Department said Thursday. If the data were adjusted for the growth of the U.S. population since then, last week's figure would likely be an...

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