US unemployment claims lowest in 52 years
Unemployment benefit claims declined by 71,000 to 1,99,000. It is the lowest since mid-November 1969.
Seasonal adjustments around the ‘Thanksgiving’ holiday contributed significantly to this larger-than-expected decline.
The four-week average of claims also fell, which smoothes out the weekly volatility. It decreased by 21,000 to 2,52,000. This is the lowest since mid-March 2020, when the pandemic hit the economy badly.
AP Pranav Raman
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