Weekly Initial Claims for Unemployment Benefits Fall to the Lowest…

Weekly Initial Claims for Unemployment Benefits Fall to the Lowest...

Initial claims for regular state unemployment insurance fell sharply in the latest week, dropping to 184,000 for the week ending December 4, a drop of 43,000 from the previous week’s revised tally of 227,000 (see first chart). The latest result is the lowest level since September 6, 1969.

The current four-week average fell for a ninth consecutive week, coming in at 218,750, the lowest level since March 7, 2020. The results suggest the labor market remains extremely tight.

The number of ongoing claims for state unemployment programs totaled 1.557 million for the week ending November 20, a drop of 258,394 from the prior week. That is the lowest result since November 22, 2019 (see second chart).

Continuing claims in all federal programs totaled just 390,379 for…

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