Initial US jobless claims rose by 18,000 last week to 206,000, the US Department of Labor announced today. The previous week’s level, a 52-year low, was revised upward by 4,000 but still marked the lowest count since 1969.
Meanwhile, the four-week moving average of jobless claims fell by 16,000 in the week ended Dec. 11 to reach 203,750. This is another new post-pandemic low and the lowest level for this average since Nov. 15, 1969, when it was 202,750. The previous week’s average was revised upward by 1,000.
Initial claims landed above the median forecast of 195,000 claims from economists surveyed by Bloomberg, Business Insider reported.
Claims have fluctuated around 200,000 in the last few weeks, the same threshold that filings averaged before the pandemic, according to Business Insider. Though the labor market hasn’t entirely healed, the steady decline is an encouraging sign that fewer people are being laid off.