Jobless claims sink 43,000 to 184,000 – lowest since 1969
The numbers: New applications for unemployment benefits sank to a 52-year low of 184,000 in the week after the Thanksgiving holiday, reflecting great reluctance by companies to lay off workers amid the biggest labor shortage in decades.
The raw or actual number of new claims, for instance, jumped to 280,665 in early December from 216,985 two weeks ago. What’s more, the pandemic has further skewed the government’s process for seasonal adjustments. That’s what appears to have happened last week.Big picture: By any measure the number of people applying for jobless benefits is now extremely low and likely to fall even further with the economy growing rapidly. Companies don’t want to lay off any workers unless as a last resort because they might not be able to find replacements.