JUST IN: Weekly jobless claims total 198,000, less than expected.
That was below the 205,000 forecast and near the lowest level since 1969.Initial filings for unemployment insurance dipped last week and remained close to their lowest level in more than 50 years, the Labor Department reported Thursday., less than the 205,000 Dow Jones forecast and a dip of 8,000 from the previous period.
Continuing claims, the data for which runs a week behind the headline number, dropped by 140,000 to 1.72 million, the lowest level since March 7, 2020, just before the Covid pandemic declaration. Despite the downward trend in initial claims, the total of those receiving benefits under all programs rose by nearly 40,000 to 2.18 million, according to data through Dec. 11.
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