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Jobless claims hit lowest level since 1973

The rate of layoffs in the U.S. fell again in late March and dropped to the lowest level since 1973.

Initial U.S. jobless claims declined by 12,000 to 215,000 in the seven days ended March 24, the government said Thursday.

Jobless claims are at the lowest level since January 1973. They fell throughout most of the country last week, with the biggest declines coming in the biggest states: California, Texas, New York, New Jersey and Virginia.

Most companies have enough trouble finding skilled workers to fill open jobs that they are reluctant to see veteran employees go for any reason.

The economy added 313,000 new jobs in February and economists predict another solid gain of around 200,000 in March. The March employment report will be issued at the end of next week.

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