Advertisment Americans filing for unemployment benefits decreased more than expected last week, nearing a 42-year low as labour market conditions stateside continued to tighten in a boost to the USA economy.
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Jobless claims fell by 5,000 to 267,000 in the week ended December 19, a Labor Department report showed Thursday.
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However, some of the decline last week could be attributed to difficulties adjusting the figures during the holidays. Claims climbed to a five-month high earlier this month, but remain at historically low levels.
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A more reliable measure, the average of initial claims over the past month, rose by 1,750 to 272,500.
Claims had declined steadily since 2009 until this year, when they touched a four-decade low in mid-July.
Fewer layoffs typically means hiring is picking up. Rates were pinned near zero for seven years.
THE TAKEAWAY: The U.S. job market continues to appear strikingly robust. Still, the pace of hiring in 2015 has slowed from 2014.
The advance number for seasonally adjusted insured unemployment is actually the continuing jobless claims.
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As usual, the Bureau of Labor Statistics (BLS) release indicated that no special factors had an impact on this week’s initial claims. This is reported with a one-week delay (for the week ending December 12) and is what we refer to as the army of the unemployed.
