Jobless Claims in US – Lowest Since 2006 says the White House

The economy is getting stronger thanks to the grit and resilience of American workers. Last month, total job growth exceeded 200,000 for the sixth straight month, the first time that’s happened since 1997. In fact, our private sector has added 9.9 million jobs for the last 53 straight months, the longest streak on record.

As the economy moves forward, the number of people who are applying for unemployment insurance is dropping. Just this week, the four-week moving average of initial claims for unemployment benefits hit their lowest level since 2006. And while this series can be volatile from week to week, a look at the longer-term picture shows the progress we have made. Take a look at where that number was during the Great Recession — and where we are now:

This chart shows that the four-week moving average of initial claims — a more accurate measure of unemployment claims than week-to-week data — has fallen to 293,500, the lowest level since February of 2006.

Chosen excerpts by Job Market Monitor. Read the whole story at  Chart of the Week: Number of Americans Applying for Unemployment Benefits Lowest Since 2006 | The White House.