The number of Americans filing new unemployment insurance claims held below pre-pandemic levels last week as consumer spending increased solidly.
- Meanwhile, price pressures continued to expand, with a measure of underlying inflation posting its largest annual increase since the 1980s in November.
- Initial claims for state unemployment benefits remained the same at a seasonally adjusted 205,000 for the week ended Dec. 18. Early this month, claims fell to a low level since 1969.
- Applications normally increase during the winter months, but a massive shortage of workers has disrupted the seasonal trend, resulting in lower seasonally adjusted claims figures in recent weeks.
There were a record-high 11 million job openings at the end of October. Higher wages as employers struggle for the limited supply of workers is helping to boost consumer spending.
DXY up +0.09%, EUR USD down -0.22%Source: US Department of Labor