American unemployment retreated in the past week to hit the lowest level in over 52 years.
Source: US Labor Department
DXY is up 0.38%, while Gold is down 0.15%.
Seasonally adjusted initial claims for the week ending December 4 fell by 43,000 to 184,000, marking the lowest since September 6, 1969, when it was 182,000. The previous week’s level was revised to 227,000, up 5,000 from 222,000.
The advance insured unemployment rate for the week ending November 27 increased by 0.1 percentage points to 1.5% from the previous week. Insured unemployment stood at 1.992 million, up 38,000 from the previous week’s revised level of 1.954 million.
The biggest jumps were reported in North Carolina, Wisconsin, Ohio, Connecticut, and Idaho. The largest declines were in Virginia, California, Texas, Michigan, and New Jersey.
The four-week moving average fell by 54,250 to 2.027 million, the lowest since March 14, 2020’s 1.730 million.