Jobless claims rise to 206,000, more than expected but still very low
by Zachary Halaschak, Economics Reporter |
| December 16, 2021 08:31 AM
The number of new applications for unemployment benefits climbed 18,000 last week to 206,000, more than anticipated.
While Thursday's numbers, reported by the Labor Department, were higher than anticipated, they still reflect a general downward trajectory of new claims throughout the year. Claims were consistently above 600,000 each week earlier this year. Initial jobless claims, which are watched closely by government officials and investors because they are a proxy for layoffs, have dropped as the labor market has improved and fewer people require economic assistance from the government.
The week before, new claims for unemployment hit the lowest level in 52 years, a sign that layoffs are very rare as employers try hard to hold on to workers.
"As expected, seasonally adjusted new jobless claims have risen a bit from the recent low level. 'Tis the season for some bumps in the statistical road related to seasonal adjustment," said Mark Hamrick, Bankrate's senior economic analyst.
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https://www.washingtonexaminer.com/policy/economy/jobless-claims-at-206-000-more-than-expected
