INDIANAPOLIS (WISH) — Here’s a look at Thursday’s business headlines with Jane King.
Jobless claims lowest since 1969
Around 187,000 filed for first-time unemployment last week, the lowest number since 1969.
Continuing claims are also at a multi-decade low.
House value skyrocketing
Your house may have made more money than you did in 2021. Zillow says the increase in value of a typical U.S. home exceeded median worker income for the first time.
Zillow says the typical U.S. home rose 19% in 2021 to $321,000, an increase of $52,667 from 2020.
That figure was slightly higher than what the median U.S. full-time worker earned, which was about $50,000, according to Census Bureau data cited by Zillow.
U.S. oil supply dropping
U.S. crude oil supply dropped by 2.5 million barrels last week, according to the Energy Information Administration.
Economists expected inventory to climb slightly. The drop places supply 13% below its five-year average.
Less oil could mean gas prices will stay higher for longer than first expected.
Russian stock market partially reopens
The Russian stock market will partially reopen Thursday.
It’s been closed since Feb. 25 when the Russian invasion of Ukraine sent stock plummeting.
However, the opening is only 33 of Russia’s biggest companies and foreign investors are not allowed to participate.
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