Number of Americans filing for unemployment falls to lowest level in 6 months
Source: ABC News/AP
November 14, 2024, 8:38 AM
The number of Americans applying for unemployment benefits fell to their lowest level in six months last week as layoffs remain at relatively healthy levels. The Labor Department reported Thursday that jobless claim applications fell by 4,000 to 217,000 for the week of Nov. 9. That’s less than the 225,000 analysts forecast.
The four-week average of weekly claims, which evens out some of the weekly ups and downs, fell by 6,250 to 221,000. Weekly applications for jobless benefits are considered representative of U.S. layoffs in a given week.
In response to weakening employment data and receding consumer prices, the Federal Reserve slashed its benchmark interest rate in September by a half a percentage point and by another quarter-point last week.
The central bank is shifting its focus from taming inflation toward supporting the job market in an attempt to pull off a rare “soft landing,” whereby it brings down inflation without igniting a recession.
Read more: https://abcnews.go.com/Business/wireStory/number-american-filing-jobless-claims-falls-lowest-level-115856928
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Unemployment Insurance Weekly Claims
Initial claims were 217,000 for the week ending 11/9 (-4,000).
Insured unemployment was 1,873,000 for the week ending 11/2 (-11,000).
https://dol.gov/ui/data.pdf
A graphic with a blue background and white text that reads "Unemployment Insurance Weekly Claims" with the website "dol.gov" in the bottom right corner.
8:31 AM · Nov 14, 2024
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where Joe Biden brought this country, and from where it will go once red don is back. Of course, the numbers after January 20 probably will not be credible. I hope for the sake of working people in America that the trend continues, but...