Market Watch

Omicron risks likely to keep markets volatile as economies recover

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Two important data points from last week confirm that, overhanging fears of Omicron aside, economic growth is starting to pick up.

First, US weekly jobless claims tumbled during the first week of December, reflecting tightness within the labour market. The initial filings for unemployment insurance which totalled 184,000 for the week ended Dec 4 were the lowest going back 52 years to Sept 6, 1969.

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A version of this article appeared in the print edition of The Straits Times on December 13, 2021, with the headline Omicron risks likely to keep markets volatile as economies recover. Subscribe