US unemployment claims lowest in 52 years

Written by admin

US unemployment claims lowest in 52 years

Washington, Nov 24 (AP) The number of Americans applying for unemployment benefits fell last week to the lowest level in more than half a century. This is another sign that the US job market is rapidly recovering from the slowdown caused by the COVID-19 pandemic last year.

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


#unemployment #claims #lowest #years

See also  Reliance deal with adnoc: after telecom and retail mukesh ambani's big plan for petrochemical

About the author


Leave a Comment

%d bloggers like this: