- Weekly jobless claims totaled 184,000 for the week ended Dec. 4, the lowest going back to Sept. 6, 1969.
- Continuing claims, which run a week behind the headline number, increased 38,000 to just shy of 2 million.
Weekly jobless claims tumbled last week, reaching a fresh 52-year low as the U.S. jobs market climbs out of its pandemic-era hole, the Labor Department reported Thursday.
Initial filings for unemployment insurance totaled 184,000 for the week ended Dec. 4, the lowest going back to Sept. 6, 1969, which saw 182,000.
"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," wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics. "It's very risky for firms to let go staff unless they have no other choice, because re-hiring people later will be difficult and likely expensive."
The total of those receiving benefits under all programs plunged, falling by 350,527 to 1.95 million, according to data through Nov. 20. The number was about 10 times that level a year ago.
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