New U.S. jobless claims fall 15,000 to 202,000 and return close to a 50-year low

Veterans attend a jobs fair in Los Angeles. The U.S. unemployment rate sits at a 50- year low of 3.5?ter years of consistent hiring.

Preliminary unemployed claims decreased by 15,000 to 202,000 in the 7 days ended Feb. 1, the federal government said Thursday.

Economists surveyed by MarketWatch had actually anticipated a 215,000 reading.

What happened: Raw or unadjusted out of work claims increased the most in Pennsylvania and New York, and tape-recorded the biggest declines in California, Michigan and New Jersey.

Read: Wage growth in the U.S. is no longer accelerating

Likewise: These states had the least expensive unemployment rates in 2019.

Big picture: The creation of more than 20 million new tasks in the previous decade has slashed unemployment to a 50- year low of 3.5%, giving the economy a strong structure to prolong a record expansion that will turn 11 years old in June.

DJIA, 0.27%

and S&P500

SPX, 0.32%

increased for a fourth straight day on Thursday. The S&P 500 and Nasdaq Composite Index.

COMP, 0.57%

have both rallied to records, clawing back from a huge drop last week connected to worries over the coronavirus.

Read: Manufacturers grow for first time in 6 months– but that was prior to coronavirus

The 10- year Treasury yield.

TMUBMUSD10 Y, -0.05%

edged up to 1.65%.

%.

source https://jobsearchtips.net/new-u-s-jobless-claims-fall-15000-to-202000-and-return-close-to-a-50-year-low/