Weekly jobless claims tumbled last week south of the border, reaching a fresh 52-year low as the U.S. jobs market climbs out of its pandemic-era hole, according to figures released Thursday by the U.S. Labor Department.
Initial filings for unemployment insurance totaled 184,000 for the week ended Dec. 4, the lowest going back to Sept. 6, 1969, which saw 182,000.
Initial claims for unemployment insurance were expected to total 211,000 for the week ended Dec. 4, according to a Dow Jones economist survey.
The total coincided with a large seasonal modification, as the unadjusted number was 280,665. But the move lower in claims, which fell from the 227,000 reported the week before, represents more progress for a labour market still struggling with a worker shortage and other pandemic-related fallout.
Continuing claims, which run a week behind the headline number, increased 38,000 to just shy of two million. However, the four-week moving average for continuing claims, which irons out weekly volatility, dropped to 2.03 million, a decline of 54,250.
