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U.S. monthly jobless claims lowest since 1973

Staff Writer |
Initial jobless claims sank by 15,000 to 234,000 in the week ended Jan 14, just a hair above the post-recession low, the government reported.

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The monthly average of claims, a more accurate gauge of labor-market trends, also fell by 10,250 to 246,750 to mark the lowest level since November 1973.

The economy has added millions of jobs in the past five years after a slow start to an economic recovery that began in the middle of 2009. The unemployment rate has fallen below 5% and many companies complain they cannot find enough skilled workers.

Initial claims have been under 300,000 for 98 straight weeks, a streak last replicated in 1970 and one that shows no sign of ending.

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