Jobless Claims in the US , Reach Lowest Level , Since September.
Last week, applications for unemployment
benefits in the United States fell to reach
the lowest level since September. .
'Bloomberg' reports that the drop shows
another glimpse of resiliency in the U.S.
labor market despite a weakening economy. .
The week ending December 10, initial
unemployment claims fell by 20,000 to reach
211,000, according to Labor Department data.
That number fell below economists'
estimates in a 'Bloomberg' survey. .
Economists' median forecast for
the week was a climb to 232,000. .
Meanwhile, continuing claims were in line with
expectations, with 1.67 million people continuing
to receive benefits for a week or more. .
According to economists, this
measure can better indicate how
hard it is for people to find work.
'Bloomberg' reports that data
can be choppy when compared
week-over-week, particularly
around the holidays.
According to the latest four-week moving average,
some of the volatility from around Thanksgiving has
been smoothed out, as it dropped from 3,000 to 227,000.
Despite the Federal Reserve's aggressive efforts to cool the economy and tame record-high inflation, the U.S. labor market has remained largely resilient. .
Despite the Federal Reserve's aggressive efforts to cool the economy and tame record-high inflation, the U.S. labor market has remained largely resilient. .
'Bloomberg' reports that hiring
has continued to be robust across many sectors,
with many workers seeing rapid wage gains.
'Bloomberg' reports that hiring
has continued to be robust across many sectors,
with many workers seeing rapid wage gains