The average number of weekly jobless benefits claims over the past four weeks fell to 199,250. That's the lowest four-week moving average since October 1969
The average number of weekly jobless benefits claims over the past four weeks fell to 199,250. That's the lowest four-week moving average since October 1969, the Labor Department reported Thursday.Last week alone, claims stood at 198,000, adjusted for seasonal swings. That was slightly less than economists had predicted but above the pandemic-era low.The number of continued claims, counting workers who have applied for benefits for at least two consecutive weeks, stood at 1.
The winter holidays add some volatility to the numbers, according to PNC chief economist Gus Faucher.Read MoreEven accounting for this volatility, the bottom line is this: America is back to work."Demand for labor is very strong and workers are in short supply, so businesses are not laying off employees," Faucher said."Those workers who do find themselves unemployed can quickly find new jobs.
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