Jobless claims stateside came in higher than expected last week after previously hitting their lowest level since 1969.
Figures released Thursday by the U.S. Labor Department revealed initial filings for unemployment insurance for the week ended Dec. 11 totaled 206,000, above the 195,000 Dow Jones estimate and a gain of 18,000 from the previous week’s upwardly revised 188,000.
The government figures go on to say that, though the weekly claims total rose, the four-week moving average, which levels out volatility in the numbers, totaled 203,750, the lowest level since Nov. 15, 1969.
Continuing claims, data for which runs a week behind the headline number, declined 154,000 to 1.845 million, the lowest since March 14, 2020.
The data was brought down a day after the Federal Reserve said it will intensify the rate at which it is withdrawing economic support.
The central bank said it will step up the tapering of its asset purchases where it will be buying $60 billion a month in Treasurys and mortgage-backed securities, half the pace prior to November. Along with the taper, Fed officials said they expect to start raising interest rates in 2022, with three quarter-percentage point hikes likely.
