9 days ago • Posted by William Ramstein

The number of Americans filing new claims for #unemployment benefits #dropped to 199,000 from a revised 270,000 last period and well below market #expectations.

It was the lowest number since November 1969, amid strong demand for labor and ongoing economic rebound. The 4-week moving average of claims, which removes week-to-week volatility, dropped to 252.25 thousand, a new pandemic low. Still, the larger-than-expected drop may be explained by the way seasonal adjustment is calculated.