The number of people receiving unemployment benefits fell in early May to the lowest point in more than 50 years, adding to signs the U.S. labor market remains unusually tight.
So-called continuing claims, a proxy for the total number of people receiving payments from state unemployment programs, declined to 1.3 million for the week ended May 7 from the previous week’s level, the Labor Department said on Thursday. That was the lowest level since December 1969.
