Get Breaking Alerts on Stocks Before The Mainstream Media

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We guarantee you to keep your privacy
Connect with us
Financial Press
economic-report:-us.-weekly-jobless-claims-plunge-to-lowest-level-since-1969
economic-report:-us.-weekly-jobless-claims-plunge-to-lowest-level-since-1969

Breaking

Economic Report: U.S. weekly jobless claims plunge to lowest level since 1969

The numbers: New filings for jobless benefit plunged by 71,000 to 199,000 in the seven days ended Nov. 20, the government said Wednesday. The report was released one day early because of the holiday on Thursday.

This is the lowest level of initial claims since November 1969.

Economists polled by The Wall Street Journal had estimated initial jobless claims would total a seasonally adjusted 260,000.

Unemployment filings have been steadily moving toward pre-crisis lows, when they were in the low 200,000s. They totaled as much as 900,000 a week at the start of the year.

The number of people already collecting state jobless benefits, meanwhile, fell by 60,000 to 2.05 million. These so-called continuing claims are also at a pandemic low.

Read: ‘My business faces a dire shortage of workers,’ owner tells Congress

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We are Spam free & Secure 🙂

Big picture: A few economists were expecting a big drop in claims based on seasonal adjustment factors. They don’t think the low level will last. Ian Shepherdson, chief economist at Pantheon Macroeconomics, thinks claims will rebound to about 260,000.

Read: Consumer prices soar again and push U.S. rate of inflation to 31-year high

 Market reaction: The Dow Jones Industrial Average
DJIA,
-0.27%

and S&P 500
SPX,
-0.37%

were set to open lower in Wednesday trades. Stock prices are near record highs.

Written By

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Breaking

I own a home with my ex-husband. He agreed to pay my half of the mortgage. In the final judgment, the judge said I...

Breaking

There was blood on the floor across U.S. stocks on Friday, but for meme stocks only a frantic last hour of buying prevented social...

Breaking

A pair of Iranian hackers have been charged with breaking into a Missouri tech firm’s cloud-computing account and running up a $760,000 bill while...

Breaking

DocuSign Inc. emerged as a hot pandemic stock play last year as it benefited from the need for digital contract tools, but the company...

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We are Spam free & Secure :)

Get Breaking Stock Alerts

Email address

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address