The job market is as tight now as it was when the first OPEC-fueled gasoline shortage hit America's shores. Bloomberg reports:

U.S. filings for unemployment benefits unexpectedly fell last week to the lowest level since January 1973, further evidence that the labor market remains tight, Labor Department figures showed Thursday.

  • Jobless claims decreased by 12k to 215k (est. 230k)
  • Continuing claims rose by 35k to 1.87m in week ended March 17 (data reported with one-week lag)
  • Four-week average of initial claims, a less-volatile measure than the weekly figure, fell to 224,500 from the prior week's 225,000
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