Chart of the week
Weekly jobless claims reached levels not seen since the late 1960s, with a low point of 188,000 in the week of December 4. They rebounded slightly last week to 206,000.
OUR ANALYSIS
In relation to the active population, these unemployment figures confirm the very strong dynamics of the American labor market. It is therefore likely that the December employment report to be released on January 7 will show a further drop in the unemployment rate, which could therefore still be close to or even below 4.0%.
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The following opinion was written on December 16, 2021 and is susceptible of changing.
*Sources : Bloomberg, and calculation from Lazard Frères Gestion
As of : December 16, 2021
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