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Labor market tightens; jobless claims near 44-year low

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in HR Management,Human Resources

Initial unemployment claims last month dropped to their lowest level since March 1973 and the unemployment rate fell to 4.7%, said the U.S. Department of Labor. As a result, several big employers have said in recent months that they’re boosting pay for their lowest-wage jobs in an effort to recruit and retain from that shrinking labor pool.

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