Workers Receiving Unemployment Benefits Hits Lowest Number In Nearly 50 Years
The total number of workers who receive unemployment insurance fell to the lowest level in 44 years at the end 2017, the Department of Labor (DOL) reported Thursday.
During the last week of 2017, 1.87 million people received unemployment insurance benefits, the lowest total of recipients since Dec. 1973, the DOL reported. The advance seasonally adjusted insured unemployment rate was 1.3 percent for at the end of January.
The number is a positive sign for the economy.
The total number of people claiming unemployment benefits in the U.S. has continued to decline since President Donald Trump took office. During the last week of April 2017, 1.9 million people received unemployment insurance benefits. (RELATED: Workers Claiming Unemployment Benefits Hit 28-Year Low)
Unemployment benefits are available for up to 26 weeks in most states and pay eligible workers up to $450 per week.
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