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US Jobless Claims Fall, Strong Labor Market

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Initial Claims – the number of those applying for state unemployment benefits decreased 13,000 to a seasonally adjusted 222,000 for the week ended December 21, according to the Labor Department. Another way expressed, the number of Americans filing applications for unemployment benefits fell last week indicating a stronger labor market. The US unemployment level is now at 3.5%, the lowest in 50 years, with Asian unemployment at 2.3% and African American rates at the lowest in recorded history at 5.5%. Hispanic unemployment was recently reported to be 4.4%.

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