US Jobless Claims Hit 52-year Low After Seasonal Adjustments

AP News (11/24/2021) Wiseman, Paul

The latest data shows a significant decrease in Americans applying for unemployment benefits, dropping to the lowest level in over 50 years, signaling a strong rebound in the U.S. job market following the pandemic-induced recession. Jobless claims fell by 71,000 to 199,000, the lowest since November 1969, although seasonal adjustments played a role in this decline. The unadjusted figures showed a slight increase. The four-week average of claims also decreased to just over 252,000, the lowest since March 2020. Despite fluctuations, the trend indicates a steady decline in claims from the peak in January. As of the week ending November 13, around 2 million Americans were receiving traditional unemployment benefits, slightly lower than the previous week.

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