The job market is looking way better. It's still playing catch-up

  • 📰 CNN
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Ireland News News

The US jobs report for November, due this week, will be watched closely -- especially as central bankers weigh their next steps.

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.London More than 20 months into the pandemic, the US job market has reached a milestone.

What's happening: Weekly claims for unemployment benefits fell to 199,000 last week after seasonal adjustments, their lowest level since 1969. They hit a peak of 6.15 million in April 2020.So, does that mean employment conditions are back to normal? Not quite. "Although the plunge in [unemployment] claims was certainly welcome, it does not indicate a dramatic turn in the labor market," PNC chief economist Gus Faucher said in a note to clients.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines