Sunday, November 28

270,000 new U.S. unemployment benefits… Lowest since corona crisis

The U.S. Department of Labor reported 269,000 new jobless claims were filed last week.

The number decreased by 14,000 from the previous week, breaking the record again for the lowest since the second week of March last year, the early stage of the COVID-19 outbreak.

It recorded less than 300,000 cases for four consecutive weeks from the first week of October.

Last week, claims fell below the Wall Street Journal’s forecast of 275,000.

The number of ‘continuous unemployment benefits’ claims for at least two weeks or more decreased by 134,000 to 2.1 million.

The sharp decline in jobless claims is due to labor shortages as companies struggling to retain their employees, MarketWatch analyzed.

It is also interpreted as a signal that the recovery speed of the US job market, which had been stagnant as the spread of delta mutations has calmed down, is accelerating again.

Economists expect non-farm payroll jobs to increase by 450,000 in October, more than double the previous month, the WSJ reported.

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