Number of Americans collecting unemployment lowest since 1970
WASHINGTON (AP) - The number of Americans collecting unemployment benefits fell to a 52-year low after another decline in jobless aid applications last week.
Jobless claims fell by 17,000, from 249,000 to 232,000 for the week ending Feb. 19, the Labor Department reported Thursday. The four-week average for claims, which compensates for weekly volatility, fell by 7,250 to 236,250.
In total, 1,476,000 Americans were collecting jobless aid the week that ended Feb. 5, a decrease of about 112,000 from the previous week and the lowest level since March 14, 1970, the government said.