- Initial jobless claims fell to 184,000 last week according to the Department of Labor
- Lowest reading since 1969.
There was 184,000 initial claims for unemployment benefits in the United States for the week ending December 4, data released by the United States Department of Labor on Thursday revealed. This marks a new post-pandemic low. and in fact, It is the lowest reading since 1969. This reading comes after the previous week’s figure of 227,000 applications. (revised from 222,000) and was well below market expectations of 215,000.
Continued Unemployment Claims Increased to 1,992,000 In the week ending November 27, the data has shown, above expectations for a drop to 1,900,000 from 1,954,000 the previous week. As a result, the insured unemployment rate rose to 1.5% in the week ending November 27 from 1.4% the week before.
About Initial Unemployment Claims
Weekly Unemployment Insurance Claims are published by the US Department of Labor and are a measure of the number of people who have filed their first claim for Unemployment Insurance. In other words, it provides a measure of the strength in the labor market. A higher number than anticipated indicates weakness in the labor market, which influences the strength and direction of US economic activity. In this way, a lower than expected reading is bullish for the dollar.
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