US jobless claims rise to 4,80,000

According to the US Labour Department data, the initial claims have risen by 7,000 from the previous week’s 4,73,000. “The four-week moving average was 4,67,500, a decrease of 5,250 from the previous week’s revised average of 4,72,750.”

Going by the statistics, the number of people receiving unemployment benefits too went up by 5,000 to 5,186,000 for the week ended December 5 as against 5,181,000 during the previous week. In the previous month, the same had touched a 26-year-high of 10.2 per cent.

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