Jobless Claims in the US Reach Lowest Level Since September
Jobless Claims in the US Reach Lowest Level Since September

Jobless Claims in the US , Reach Lowest Level , Since September.

Last week, applications for unemployment benefits in the United States fell to reach the lowest level since September.

.

'Bloomberg' reports that the drop shows another glimpse of resiliency in the U.S. labor market despite a weakening economy.

.

The week ending December 10, initial unemployment claims fell by 20,000 to reach 211,000, according to Labor Department data.

That number fell below economists' estimates in a 'Bloomberg' survey.

.

Economists' median forecast for the week was a climb to 232,000.

.

Meanwhile, continuing claims were in line with expectations, with 1.67 million people continuing to receive benefits for a week or more.

.

According to economists, this measure can better indicate how hard it is for people to find work.

'Bloomberg' reports that data can be choppy when compared week-over-week, particularly around the holidays.

According to the latest four-week moving average, some of the volatility from around Thanksgiving has been smoothed out, as it dropped from 3,000 to 227,000.

Despite the Federal Reserve's aggressive efforts to cool the economy and tame record-high inflation, the U.S. labor market has remained largely resilient.

.

Despite the Federal Reserve's aggressive efforts to cool the economy and tame record-high inflation, the U.S. labor market has remained largely resilient.

.

'Bloomberg' reports that hiring has continued to be robust across many sectors, with many workers seeing rapid wage gains.

'Bloomberg' reports that hiring has continued to be robust across many sectors, with many workers seeing rapid wage gains