U.S. Labor Market Powers On Despite Growth Concerns

A gauge of layoffs across the U.S. fell last week to the lowest level since 1969, suggesting the labor market remains on solid ground despite concerns of slowing economic growth.

Initial jobless claims declined by 13,000 to a seasonally adjusted 199,000 in the week ended Jan. 19, the Labor Department said Thursday. This marks the lowest level for claims since November 1969, when applications clocked in at 197,000.

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