Unemployment claims at five-week low show resilient US job market | Fin24
  • Credit Rating

    Moody's has (again) said that weak state-owned entities are a risk to SA's sovereign credit rating.

  • SARS Inquiry

    Judge Nugent has recommended the president sack suspended SARS boss Tom Moyane.

  • Nene Rand Rollercoaster

    Simon Brown says savvy investors worked out how the rand would react to uncertainty at Treasury.


Unemployment claims at five-week low show resilient US job market

Dec 07 2017 15:44
Shobhana Chandra, Bloomberg

Washington - Applications for unemployment benefits in the US declined to a five-week low, consistent with a resilient labour market, Labour Department figures showed on Thursday.

Highlights of jobless claims (Week ended December 2)

• Jobless claims decreased by 2k to 236k (est. 240k).

• Four-week average, a less-volatile measure than the weekly figure, dropped to 241 500 from the prior week’s 242 250.

• Continuing claims fell by 52k to 1.91m in week ended November 25 (data reported with one-week lag)

Key takeaways

Applications for jobless benefits below the 300 000 are considered consistent with a steady job market. Claims hovering near the lowest level in more than four decades also show employers are reluctant to reduce staff amid the current shortage of qualified workers.

A report on Friday is projected to show payrolls increased by almost 200 000 in November, while the jobless rate held at an almost 17-year low of 4.1%.

Other details

• Unemployment rate among people eligible for benefits held at 1.4%.

• The Labour Department said jobless claims were estimated for the Virgin Islands as the territory continues to recover from hurricanes Irma and Maria months ago.

• Claims-taking process in Puerto Rico has also still not returned to normal, Labour said.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

us  |  economy  |  unemployment


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The appointment of Tito Mboweni will:

Previous results · Suggest a vote