US claims for unemployment aid hit lowest level since ’69

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In this April 2, 2015, photo, a crowd gathers for a huge 15-county job fair at The Colonnade in Ringgold, Ga. The Labor Department releases weekly jobless claims on Thursday, June 4, 2015. (Dan Henry/Chattanooga Times Free Press via AP) THE DAILY CITIZEN OUT; NOOGA.COM OUT; CLEVELAND DAILY BANNER OUT; LOCAL INTERNET OUT

The number of Americans filing for unemployment benefits dropped to the lowest level in nearly half a century.

The Labor Department says claims for jobless aid fell by 5,000 last week to 192,000, lowest since September 1969. The four-week average, which is less volatile, dropped by 6,000 to 201,250, lowest since November 1969.

Weekly claims have been at historically low levels — below 300,000 — for more than four years.

Unemployment claims are a proxy for layoffs. The low levels show that most American workers enjoy job security. The employment rate is 3.8%, the lowest in almost 50 years.

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