Monday, September 8, 2025

Latest

US Weekly Jobless Claims Plummet to Lowest Since 1969

It appears that Americans are finally returning back to work. US jobless claims fell to the lowest since the 60s, suggesting that America’s labour market is heating up and may actually meet freshly renominated Fed Chair Jerome Powell’s goalpost of “substantial further progress.”

According to latest data published by the Labour Department, weekly first-time applications for unemployment benefits fell by 71,000 to 199,000 for the week ending on November 20, marking the lowest number of claims since 1969, and significantly below the consensus estimate of 260,000 applications forecast by economists polled by Bloomberg.

The latest figures come just as inflation across the US soars by the sharpest pace in over 30 years, as supply chain bottlenecks, shortages, and surging demand force producers to hike prices for goods and services. In response, the Fed has decided to gradually begin paring back its monthly bond purchases, but stopped short of issuing a comprehensive timeline for an interest rate hike.

To further add support for an update to the country’s ultra-dovish fiscal policies, the US economy also expanded by more than previously expected during the summer. According to revised figures from the Commerce Department, second quarter GDP growth was upwardly revised to 2.1%, up by one-tenth of a percentage point from previous estimates.

So, mission accomplished, Jerome Powell?


Information for this briefing was found via the Labour Department and the Commerce Department. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

Related News

Canada Jobless Claims to Hit Just Under 1 Million, US Could See upto 3 Million Initial Claims

Just under 1 million Canadians applied for jobless claims last week; approximately 5 percent of...

Wednesday, March 25, 2020, 01:27:03 PM

US Jobless Claims Hits Unadjusted Record of 2.89 Million; Up Over 1,000%

According to the US Department of Labor the week ending March 21, seasonally adjusted initial...

Thursday, March 26, 2020, 09:12:30 AM

US Sheds Another 3.2M Jobs Last Week; More than 33M Over Last 7 Weeks

This morning the Department of Labor released the jobless claim data for week ended May...

Thursday, May 7, 2020, 09:04:12 AM

US Jobless Claims on the Rise, But Still Sit at Record-Low Levels

First-time applications for jobless benefits jumped to the highest level in over 12 months, but...

Thursday, April 13, 2023, 11:36:00 AM

US Jobless Claims Unexpectedly Rise Despite Improving Labour Market

New claims for unemployment benefits unexpectedly increased last week, despite ongoing vaccine rollouts and business...

Saturday, April 3, 2021, 11:26:00 AM