U.S. Jobless Claims Plunge to Lowest Weekly Tally Since 1973
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U.S. filings for unemployment benefits plummeted to the lowest level in almost 45 years in a sign the job market will tighten further in 2018, Labor Department figures showed Thursday.
The drop in claims shows that companies are increasingly holding on to their employees amid a shortage of skilled labor. Businesses are struggling to find workers to fill positions, particularly in manufacturing and construction, as cited in some anecdotes for the Federal Reserve’s Beige Book released Wednesday.