U.S. Unemployment Insurance Claims Show Marked Drop For Q4 Year Over Year
Claims decreased by 164,647 in the Oct-Dec quarter in 2024 when compared to those during the same period in 2023
The U.S. unemployment insurance claims for the week ending Dec 21 decreased slightly by 1,000 to 219,000 from the previous week. However, Q4 in 2024 recorded a marked drop of 164,647 claims compared to the same quarter of last year.
December 2023 recorded 841,000 initial claims after omitting the number for the last week (week ending December 30) as the figures for the last week of December 2024 (week ending December 28) are yet to come in. The total for three weeks in December 2024 amounts to 439,000, a significant drop of 402,000 for the period.
The claims, however, remained steady through November with the four-week aggregate showing 870,000 each for 2023 and 2024.
In October 2024, the claims sharply rose by 24,353 to 866,353 compared to 842,000 in October 2023.
