Initial jobless claims continue to fall. The four-week moving average for initial claims at 199,250 is the lowest it has been since October 25, 1969, which reflects the tightness of the labor market. Americans filing for unemployment benefits fell to the lowest level of initial claims in 52 years. The labor market continues to recover from the coronavirus economic burdens. Demand for workers remains strong as the economy rebounds.
US initial jobless claims and continuing claims for current week
- Initial jobless claims for the week ending December 25 decreased by 8,000 to 198,000 (consensus 190,000)
- Four-week moving average for initial claims (199,250) is the lowest it has been since October 25, 1969, which reflects the tightness of the labor market.
- Continuing claims for the week ending December 18 decreased by 140,000 to 1.716 million.
- The four-week moving average for continuing claims decreased by 59,500 to 1,859,500. That is the lowest level for this average since March 14, 2020.
- The total number of continued weeks claimed for benefits in all programs for the week ending December 11 was 2,177,355, an increase of 39,363 from the previous week. In the same week a year ago, there were 20,492,081 weekly claims filed for benefits in all programs.
- This is a new pandemic low.
The largest increases in initial claims for the week ending December 25 2021
Initial claims were slightly up by 1.1 thousand to 256 thousand, with notable increases being recorded in New Jersey (4.6 thousand), Pennsylvania (3.3 thousand), Michigan (2.8 thousand) and Ohio (2.5 thousand)
The largest decreases for the week ending December 25 2021
Initial claims largest declines being reported in California (-6.6 thousand), Texas (-4.3 thousand) and Virginia (-2.1 thousand)
Source: DOL
From The TradersCommunity US News Desk