Number of Americans filing for first-time unemployment claims drops 16,000
(MENAFN) According to data from the US labor Department released on Thursday, the number of Americans filing for first-time unemployment claims dropped by 16,000 in last week, reaching a total of 207,000. This figure was significantly lower than the market's forecast of 224,000, indicating a stronger-than-expected labor market. It also marked a decrease from the previous week’s level of 223,000, which had not been revised.
The four-week moving average of initial claims, which smooths out week-to-week fluctuations, was recorded at 212,500, reflecting a decrease of 1,000 from the previous week's average of 213,500. This also suggests a gradual easing of claims, pointing to stability in the labor market over the past month.
In addition to the unemployment claims data, the December jobs report showed that the US economy added 256,000 new jobs during the month. This was a notable increase compared to the previously revised figure of 212,000 for November, signaling continued employment growth despite broader economic uncertainties.
The decrease in unemployment claims and the robust job gains in December provide a positive outlook for the US labor market, suggesting that employers are still hiring at a healthy pace and that layoffs remain relatively low, contributing to overall economic resilience.
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