If you liked jobless claims at 199,000 you’ll love them at 184,000 this week, according to the latest data from the Department of Labor…(DOL)
- Initial jobless claims fell to 184,000, a decrease of 43,000 from the previous week’s revised level. This is the lowest level for initial claims since September 6, 1969 when it was 182,000.
- Economists had predicted a much smaller drop to 215,000.
Despite the huge drop in initial clams continuing claims did not meet expectations for the week ending November 27th…
- Continuing claims were actually up to 1,992,000, an increase of 38,000 from the previous week’s revised level.
- Economists had projected a drop to 1.9M
Ian Shepherdson, chief economist at Pantheon Macroeconomics, told CNBC we are in full on recovery mode…(CNBC)
- “A correction next week seems likely, but the trend in claims clearly is falling rapidly, reflecting the extreme tightness of the labor market and the rebound in GDP growth now underway,”
