New Jobless Claims , Reach Lowest Level , Since 1969.
On November 24, the United States Labor Department reported that the number of people submitting jobless claims hit a 52-year record low last week.
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On November 24, the United States Labor Department reported that the number of people submitting jobless claims hit a 52-year record low last week.
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NBC reports that there were only 199,000 new filings, the lowest it's been since November 15, 1969, when claims were just 197,000.
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NBC reports that there were only 199,000 new filings, the lowest it's been since November 15, 1969, when claims were just 197,000.
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The Labor Department did not attribute the dramatic fall to any specific factors.
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NBC suggests this could be a good sign for a struggling job market still reeling from the pandemic.
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Continuing unemployment claims fell 60,000 to reach 2.05 million, according to NBC, another good sign of a recovering job market.
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Data through November 6 suggests that the total number of people receiving benefits dropped by 752,390 to reach 2.43 million.
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NBC points out that the new data comes amid an inflation rate rising at its fastest pace in 30 years.
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Supply chain disruptions have driven prices up while consumer demand has also escalated.
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Supply chain disruptions have driven prices up while consumer demand has also escalated.
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A report by the U.S. Commerce Department saw wages and salaries increase $301.1 billion, over 50% higher than the original estimate.
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A report by the U.S. Commerce Department saw wages and salaries increase $301.1 billion, over 50% higher than the original estimate.
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While the Federal Reserve has indicated that it may hike rates once in 2022, according to the CME’s FedWatch tracker, traders see a 61% chance of three increases next year.
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While the Federal Reserve has indicated that it may hike rates once in 2022, according to the CME’s FedWatch tracker, traders see a 61% chance of three increases next year.