Money matters
Weekly jobless claims total 199,000, the lowest mark recorded since 1969
The Department of Labor said last week’s jobless claims totaled 199,000, which is lower than any week in the last 52 years.
On Wednesday, the DOL reported its new jobless claims for the previous week. The numbers are usually released on Thursday but due to Thanksgiving, it was pushed forward one day. Economists predicted the number of claims would be around 260,000, but they were off by 61,000.
In the week ending on November 15, 1969, the jobless claims were at 197,000. Since then, they have only gone up, fluctuating up and down, but never reaching that low since. Before the pandemic, the number was 225,000.
Additionally, the DOL reported that it had 2.049 million continuing claims, which was higher than the 2.033 million expected. The prior week’s number was revised to 2.109 million. The department didn’t mention any factors that went into the new numbers. The data will be revised next week. That, along with the following week’s data, will show if the numbers truly fell that low or if it was fluke.
Mark Hamrick, senior economic analyst at Bankrate, commented on the numbers. “It is fair to say that we didn’t see that coming,” he wrote in an email on Wednesday. “Getting new claims below the 200,000 level for the first time since the pandemic began is truly significant, portraying further improvement.”
Terry A. Hurlbut has been a student of politics, philosophy, and science for more than 35 years. He is a graduate of Yale College and has served as a physician-level laboratory administrator in a 250-bed community hospital. He also is a serious student of the Bible, is conversant in its two primary original languages, and has followed the creation-science movement closely since 1993.
-
Civilization5 days ago
CHAPTER 12: Seeding Race Wars
Space Is No Longer the Final Frontier—Reality Is [forthcoming release May 2024] -
Constitution3 days ago
Precinct Strategy scores again
-
Education4 days ago
Title IX revision sparks State revolts
-
Civilization2 days ago
Legacy media already assume Trump wins
-
Education5 days ago
Did the Freemasons, Illuminati, Spiritualists and Mystics establish this country?
-
Civilization2 days ago
SCOTUS Is Last Bulwark Against Critical Legal Studies
-
Education3 days ago
The Road Back to Normalcy Starts Where the Problem Began: College Campuses
-
Civilization2 days ago
What 10 Years of U.S. Meddling in Ukraine Have Wrought (Spoiler Alert: Not Democracy)