US Jobless Claims Drop to Lowest Mark Since 1969
According to Bloomberg News, the applications for the unemployment benefits of the US states dropped last week, which is the lowest since 1969, indicating that there exist difficulties in the adjustment in the raw data for the seasonal effects. The figure recorded was at 184,000 in the current week that ended December 4th, for the initial unemployment claims, a figure that was recorded to be 43,000 less as compared to the earlier period, as per data from the Labor Department Thursday. In a Bloomberg survey of economists, the median estimate was found to be for around 220,000 applications. This decline has caused the level of applications to drop below the earlier two weeks, which the economists are attributing to hiccups in adjusting to the seasonal swings that take place around the holiday times. The initial claims on an unadjusted basis increased by 64,000. The request for aid for the unemployed was trending downward since the beginning of the year as Americans started returning to work and the employers are more focused on the retention of the
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