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U.S. Posts Sharp Decline in Unemployment Claims
(MENAFN) Weekly unemployment filings dropped sharply in the United States, plunging to 199,000—a decline of 16,000 from the prior week, fresh data from the US Labor Department revealed Wednesday.
The figure significantly undershot market projections, which had anticipated 219,000 new claims for the period.
Meanwhile, the four-week moving average climbed to 218,750, marking an increase of 1,750 compared to the previous week's figure.
Ongoing unemployment benefit claims also retreated, falling 47,000 to reach 1.866 million recipients.
However, November's unemployment rate surged to 4.6%—the highest level recorded in approximately four years—up from September's 4.4% and exceeding analyst expectations.
The figure significantly undershot market projections, which had anticipated 219,000 new claims for the period.
Meanwhile, the four-week moving average climbed to 218,750, marking an increase of 1,750 compared to the previous week's figure.
Ongoing unemployment benefit claims also retreated, falling 47,000 to reach 1.866 million recipients.
However, November's unemployment rate surged to 4.6%—the highest level recorded in approximately four years—up from September's 4.4% and exceeding analyst expectations.
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