Weekly US jobless claims drop sharply

(Sharecast News) - The U.S. jobs market tightened unexpectedly during the preceding week. According to the Department of Labor, in seasonally adjusted terms, the number of initial unemployment claims dropped by 24,000 over the week ending on 18 November to reach 209,000.

The four-week moving average meanwhile fell by 750 to 220,000.

Secondary unemployment claims, which are those not being filed for the first time and referencing the week that ended on 11 November, dipped by 22,000 to approximately 1.84m.

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