00:00Against a backdrop of war, elevated energy prices, and persistent inflation,
00:05the American labor market just posted one of its most striking weeks in modern history.
00:10New unemployment filings for the week ending April 25th dropped by 26,000 to just 189,000,
00:18a figure that blew past forecasts of around 212,000 and marked the lowest weekly total
00:24since September of 1969. The number of people continuing to collect benefits also fell,
00:31hitting 1.79 million, a two-year low suggesting that those who do lose their jobs are finding
00:37new work relatively quickly. The catch, of course, is that a strong job market isn't translating
00:43into financial relief for most households. Oil is still hovering around $104 a barrel,
00:49and Americans are paying an average of $4.30 every time they fill up.
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