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Jobless claims plunge to their lowest level in 52 years
The number of Americans applying for unemployment benefits plummeted last week to the lowest level in more than half a century, with employers opting against layoffs amid a persistent shortage of workers. Jobless claims dropped by 71,000 to 199,000, the lowest since mid-November 1969, according to figures released by the Labor Department on Wednesday. The drop was much bigger than economists expected.