Initial claims for unemployment benefits have now hit their lowest point in 20 years.
According to the Department of Employment, Training and Rehabilitation, September claims totaled 8,290. That’s the lowest September number for new benefit claims since 1995 and the lowest reading period since August 1998.
DETR Economist Jeremey Hays said initial claims are now down 8.6 percent over the past 12 months and the average unemployment duration is down to 13.3 weeks compared to 13.5 weeks a year ago.