The number of Americans receiving unemployment benefits fell last week to its lowest level since President Richard Nixon.
The labor Department said Thursday that the number of applications for unemployment benefits fell by 22 000 to 222 000. This is the lowest rate since March 1973. The total number of people receiving unemployment benefits declined by 1.89 million, the lowest level since December 1973 and 9% less than last year.
Experts explain the trend: employers become more confident in the economy and are not afraid to retain employees by offering them attractive and competitive terms of payment.
Last month, the unemployment rate in the country reached 16-year low, amounting to 4.2 per cent. However, in September employers, for objective reasons was reduced 33 000 jobs: hurricanes Irma and Harvey have significantly influenced the economic situation in the States of Texas and Florida. In the near future, economists expect the situation back to the previous state, increasing employment and creating new jobs.
At the same time, unemployment data have an error, because the people affected by the hurricanes Harvey and Irma Puerto Rico and the virgin Islands are still deprived of the opportunity to apply for benefits. This was officially announced by the Department of labor.
