The number of US citizens who have applied for redundancy benefits in the week before Christmas dropped by 10,000 to reach 265,000, bringing initial claims to the enormously low levels that have been the trend since middle of 2015.
Analysts meanwhile were predicting initial claims to total a seasonally adjusted 270,000 in the week starting from Dec. 18 to finish on Dec. 24.
During the mid-December, new claims had surged to a six-month top level of 275,000. Nonetheless claims usually fluctuate big time in the period that stretches from Thanksgiving to starting period of January, as many Americans move in and out of the workforce during the holiday shopping season.
Meanwhile Initial claims have been under the range of 300,000 for 95 straight weeks, the longest run since 1970. Millions of Americans have managed to find the jobs in the past five years, pushing the redundancy rate less than 5% and provoking grievances among trades about how hard it is to find skilled workers to fill open jobs.
Furthermore the less unpredictable four-week average of initial claims, plunged by 750 to 263,000, the Labor Department said Thursday. The monthly figure is seen as a less impulsive measure.
Moreover continuing unemployment claims surged by 63,000 to 2.1 million in the week ended Dec.17. These claims, announced with a one-week postponement, imitate the number of people already gathering unemployment payments.