AFP, Washington :
New US claims for jobless benefits fell in the week before the Christmas holiday, continuing a record streak of low levels, the Labor Department reported Thursday.
First-time claims for unemployment insurance fell 10,000 in the week ending December 24 to 265,000 from the previous week, seasonally adjusted.
The result marked 95 straight weeks of claims below 300,000, the longest stretch under that level since 1970.
Analysts had forecast a decline of just 2,000 in the volatile indicator that can be used to gauge the prevalence of layoffs and the health of labor markets.
The more stable four-week moving average for initial claims was essentially flat at 263,000, down just 750 from the prior week. US monetary policymakers earlier this month adopted the first interest rate increase in a year, acknowledging robust job creation in the second half of 2016 and hoping to stave off anticipated gains in inflation. The central bank now foresees a faster pace of rate hikes in 2017 than it had in September.
Following Donald Trump’s shock victory in November’s presidential elections, observers have pointed to possible stimulus measures, saying they may create additional upward pressure on prices.
New US claims for jobless benefits fell in the week before the Christmas holiday, continuing a record streak of low levels, the Labor Department reported Thursday.
First-time claims for unemployment insurance fell 10,000 in the week ending December 24 to 265,000 from the previous week, seasonally adjusted.
The result marked 95 straight weeks of claims below 300,000, the longest stretch under that level since 1970.
Analysts had forecast a decline of just 2,000 in the volatile indicator that can be used to gauge the prevalence of layoffs and the health of labor markets.
The more stable four-week moving average for initial claims was essentially flat at 263,000, down just 750 from the prior week. US monetary policymakers earlier this month adopted the first interest rate increase in a year, acknowledging robust job creation in the second half of 2016 and hoping to stave off anticipated gains in inflation. The central bank now foresees a faster pace of rate hikes in 2017 than it had in September.
Following Donald Trump’s shock victory in November’s presidential elections, observers have pointed to possible stimulus measures, saying they may create additional upward pressure on prices.
