Economy

Weekly jobless claims total 198,000, less than expected and around 52-year low

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Initial filings for unemployment insurance dipped last week and remained close to their lowest level in more than 50 years, the Labor Department reported Thursday.

Jobless claims for the week ended Dec. 25 totaled 198,000, less than the 205,000 Dow Jones forecast and a dip of 8,000 from the previous period.

When adjusting for weekly volatility, the four-week moving average for claims came to 199,250, the lowest level since Oct. 25, 1969.

Continuing claims, the data for which runs a week behind the headline number, dropped by 140,000 to 1.72 million, the lowest level since March 7, 2020, just before the Covid pandemic declaration.

The numbers reflect an increasingly tight labor market and…



Source cnbc.com

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