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The number of new unemployment insurance claims in the United States fell sharply last week, the lowest level since 1969. If the trend around this level continues, the uneven recovery of the labor market will enter a new stage.
The number of applications has decreased more than expected in the market, but the issue is what kind of seasonal adjustment the government has made to the original figures, and it may be possible to explain the reason from that perspective.
“It’s a purely seasonal distortion, and much of this reduction will be reversed next week,” said Wrightson ICAP Chief Economist Lou Crandall.
Before seasonal adjustment, the number of applications last week increased by about 18,000.
At the end of February 2020, before the spread of the new coronavirus infection in the United States, the number of applications was 216,000. At the beginning of April of the same year, the number expanded to 6.1 million and peaked.
The number of continuous unemployment insurance recipients decreased by 60,000 from the previous week to 2,049,000 in the week ending November 13.
See the table for details on statistics.
Original title:Claims for U.S. Jobless Benefits Plunge to Lowest Since 1969 (2)（抜粋）、U.S. Weekly Jobless Claims Fell 71K to 199K; Est. 260K（抜粋）
(Update with additional statistics details and economist views)