Uptick in Initial Unemployment Claims
The recent unemployment data reveals a notable increase in initial claims, marking a shift in the job market’s trajectory. For the week ending December 23, seasonally adjusted initial claims rose to 218,000, up by 12,000 from the prior week’s revised level. This uptick exceeded market expectations, which were set at 211,000. The previous week’s level saw a minor revision, increasing by 1,000 to 206,000.
Four-Week Moving Average and Unemployment Rates
Despite the rise in weekly claims, the four-week moving average, a more stable measure, showed a marginal decrease to 212,000, down by 250 from the revised average of the previous week. The insured unemployment rate edged up to 1.3% for the week ending December 16, marking a slight increase…
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