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USA: Initial jobless claims drop to their lowest level since 1969

Wednesday, 11/24/2021 3:12 PM from

dpa-AFX

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The New York Statue of Liberty. New York is the stock exchange metropolis of the United States. pexels.com

WASHINGTON (dpa-AFX) – In the US, weekly initial jobless claims have dropped to their lowest level since 1969. Initial jobless claims fell by 71,000 to 199,000 a week, the Department of Labor announced in Washington on Wednesday. Analysts had expected on average a slight decrease to 260,000 applications. The weekly initial applications are considered a leading indicator for the labor market.

The data could increase pressure on the US Federal Reserve to get out of its loose monetary policy more quickly. The Fed takes the labor market very closely into its monetary policy. According to experts, the unexpectedly sharp decline in initial applications could also be explained by how the government adjusts the raw data for seasonal fluctuations. Unadjusted, the numbers even increased./jsl/bgf/mis

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