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New claims for unemployment in the United States have increased to 206,000, signaling that the
job market is trying to recover from the coronavirus pandemic.
The Labour Department reported on Thursday a substantial
increase of 18,000 from the previous week which was revised up by 4,000
from 184,000 to 188,000.
The 4-week moving
average was 203,750, a decrease of 16,000 from the previous week's revised
average. This is the lowest level for this average since November 15, 1969,
when it was 202,750.
The advance
seasonally adjusted insured unemployment rate was 1.4 percent for the week
ending December 4, a decrease of 0.1 percentage points from the previous week's
unrevised rate.
The fall in the
number of Americans claiming unemployment benefits dropped sharply, reflecting
the impact of the end of several federal pandemic benefits programs by the
states.
Though the
recently discovered Omicron version of Covid-19 poses a possible danger to the labor
market and the entire economy.
Job Creation
The Labor
Department said that nonfarm payrolls in the country increased by 531,000 seasonally adjusted jobs in
October, up
from 312,000 in September, which had been revised from 194,000.
The jobless rate decreased to 4.6% in
October from
4.8% in September. Last month, the number of Americans working or looking for
employment increased, as did the average hourly pay in the U.S.
U.S private
companies added employment at a faster pace in November. According to the ADP
National Employment Report released on Wednesday, private payrolls climbed by 534,000
jobs last month.
US Treasury
Yields
The Treasuryyield in the United States fell early Friday after a steady increase due to
growing concerns over the rapid spread of the Omicron coronavirus strain.