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New jobless claims fell substantially last week to their lowest level in 52 years – much better than economists had expected and promising growth continued for the labor market, which has struggled to add back workers in recent weeks. Despite doing so, it has staged an encouraging comeback. Lost jobs during the pandemic.

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According to the weekly, about 199,000 people filed initial jobless claims in the week ending November 20, 71,000 fewer than the previous week and the lowest level since November 1969. statistics Released on Thursday.

Last week’s new claims, the lowest weekly level during the pandemic at the time, were revised slightly to 270,000 from the originally reported 268,000.

This week’s figures came in much better than the average economist expected, which called for nearly 260,000 new claims last week, according to data from Businesshala.

Continuing claims, known as insured unemployment, also fell to a new pandemic-era low of nearly 2 million, a fall of 60,000 from the previous week, but still below pre-Covid levels of 1.8 million. is more.

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