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U.S. Jobless Claims Decline to Lowest Level Since 1969

Published 09/12/2021, 14:42
Updated 09/12/2021, 14:42
© Bloomberg. A worker welds a lawnmower frame together on the assembly line at a facility in Coatesville, Indiana. Photographer: Luke Sharrett/Bloomberg

© Bloomberg. A worker welds a lawnmower frame together on the assembly line at a facility in Coatesville, Indiana. Photographer: Luke Sharrett/Bloomberg

(Bloomberg) -- Applications for U.S. state unemployment benefits declined last week to the lowest level since 1969, illustrating difficulties adjusting the raw data for seasonal effects.

Initial unemployment claims totaled 184,000 in the week ended Dec. 4, down 43,000 from the prior period, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 220,000 applications. 

The drop pushes the level of applications below the plunge two weeks earlier in what many economists attributed to difficulties adjusting for seasonal swings around the holidays. On an unadjusted basis, initial claims climbed by about 64,000.

©2021 Bloomberg L.P.

© Bloomberg. A worker welds a lawnmower frame together on the assembly line at a facility in Coatesville, Indiana. Photographer: Luke Sharrett/Bloomberg

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