US job security hits record high

New claims for unemployment are trending at their lowest levels since 1968, and by some measures job security is better than in the 1960s, the Wall Street Journal reported April 15. 

Three things to know: 

1. The layoffs-per-worker rate is significantly lower today than in the 1960s, according to the Wall Street Journal. In March, there were about 1.1 jobless claims per 1,000 people in the labor force. That's compared to 2.3 in 1968. 

2. Nonsupervisory workers earned an average of $27.06 per hour in March, according to the U.S. Labor Department. That's compared to $25.19 per hour, adjusted for inflation, that similar workers earned in November 1968. 

3. More than 70 percent of workers were employed in the private services sector in 2021. Service-sector jobs tend to follow broader economic trends, compared to manufacturing, where workers are frequently laid off for short periods to adjust production levels, according to the report. 

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