Labor Department reported on May 18 that, initial claims for state unemployment benefits decreased to 232,000 for the week ended May 13.
The total number of unemployed workers receiving benefits fell to 1.9 million, the lowest such mark since November of 1988, when the workforce was much smaller.
Claims have now been below 300,000, a threshold associated with a healthy labor market, for 115 straight weeks. That is the longest such stretch since 1970, when the labor market was smaller. The labor market is close to full employment, with the unemployment rate at a 10-year low of 4.4 percent.
U.S. economy is adding roughly twice as many jobs as necessary to absorb new entrants into the labor force. The employers are desperately looking for skilled foreign workers. It is time for you to update your career profile and pitch potential employers now!
Read more here:: http://www.myvisajobs.com/Blog/post/US-jobless-claims-at-lowest-level-in-28-years.aspx