{"id":135142,"date":"2023-12-15T09:38:56","date_gmt":"2023-12-15T09:38:56","guid":{"rendered":"https:\/\/myfintale.com\/?p=135142"},"modified":"2023-12-15T09:38:56","modified_gmt":"2023-12-15T09:38:56","slug":"u-s-weekly-jobless-claims-unexpectedly-drop-to-202000","status":"publish","type":"post","link":"https:\/\/myfintale.com\/economy\/u-s-weekly-jobless-claims-unexpectedly-drop-to-202000\/","title":{"rendered":"U.S. Weekly Jobless Claims Unexpectedly Drop To 202,000"},"content":{"rendered":"

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly fell in the week ended December 9th.<\/p>\n

The report said initial jobless claims slid to 202,000, a decrease of 19,000 from the previous week’s revised level of 221,000. <\/p>\n

Economists had expected jobless claims to come in unchanged compared to the 220,000 originally reported for the previous week.<\/p>\n

With the unexpected decrease, jobless claims fell to their lowest level since hitting 200,000 in the week ended October 14th.<\/p>\n

“Initial jobless claims continue to bounce around due to seasonal noise, falling last week to their lowest level since mid-October,” said Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics. “Looking past seasonal volatility, initial claims remain at a level that is consistent with relatively low layoffs”<\/p>\n

The Labor Department said the less volatile four-week moving average also slipped to 213,250, a decrease of 7,750 from the previous week’s revised average of 221,000.<\/p>\n

Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 20,000 to 1.876 million in the week ended December 2nd.<\/p>\n

The four-week moving average of continuing claims also climbed to 1,874,500 from the previous week’s revised average of 1,871,000, reaching the highest level since December 2021.<\/p>\n

“The continued claims data suggest that some unemployed individuals may be encountering more difficulties in finding new jobs, which would be consistent with weakening demand for labor,” said Vanden Houten. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly fell in the week ended December 9th. 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